ALVMNVS  BOOK  FVND 


THE 

SCIENCE 

or 


DOUBLE-ENTRY  BOOK-KEEPING, 

SWJ.ULD       jL 

BY  THE  LYIYuiJUCTiON 
-  \  -' 

OX,   BR.  AND   OR. 


.. 
OF   Al 


INFALLIBLE 


CALCULATED  TO  IWSU 


ID  TO  INSURE  -i      '...H'LETE 


KNOWLEDGE 


OF  THE 


THEORY    ATMH    PRACTICE    Ot\  ACCOUNTS. 

fJY  C.  C.  MARSH,  ACCOUNTANT. 


'  Men  change  u  ith  fortune,  manners  change  with  climes, 
Tenets  with  books,  and  principles  with  times." 


IMPROVED  EDITION-REVISED  BY  THE  AUTHOR. 


PHILADELPHIA: 

PUBLISHED  BY  HOGAN  &  THOMPSON, 
No.  30,  NORTH  FOURTH  STREET. 

1841. 


EASTERN  DISTRICT  OF  PENNSYLVANIA,  to  wit: 

BE  IT  REMEMBERED,  That  on  the  thirteenth  day  of  August,  in  the  fifty-fifth  year  of 
the  Independence  of  the  United  States  of  America,  A.  D.  1830,  Christopher  C.  Marsh,  of 
the  said  district,  has  deposited  in  this  office,  the  title  of  a  book,  the  right  whereof  he 
claims  as  Author,  in  the  words  following,  to  wit : — 

1  The  Science  of  Double-Entry  Book-Keeping,  simplified  by  the  Introduction  of  an 
Infallible  Rule  for  Dr.  and  Cr.    Calculated  to  insure  a  Complete  Knowledge  of  the 
^Theory  and  Practice  of  Accounts.    By  C.  C.  Marsh,  Accountant. 

'Men  change  with  fortune,  manners  change  with  climes, 
Tenets  with  books,  and  principles  with  times.1" 

In  conformity  to  the  act  of  the  Congress  of  the  United  States,  entitled,  "  An  act  for  the 
encouragement  of  learning,  by  securing  the  copies  of  maps,  charts  and  books,  to  the 
authors  and  proprietors  of  such  copies,-during  the  times  therein  mentioned ;"  and  also  to 
the  act  entitled  "  An  act  supplementary  to  an  act  entitled, '  An  act  for  the  encouragement 
of  learning,  by  securing  the  copies  of  maps,  charts,  and  books,  to  the  authors  and  proprie- 
tors of  such  copies,  during  the  times  therein  mentioned,'  and  extending  the  benefits  there 
of  to  the  arts  of  designing,  engraving,  and  etching  historical  and  other  prints." 

D.  CALDWELL, 
Clerk  of  the  Eastern  District  of  Pennsylvania. 


ADVERTISEMENT. 


THE  Publishers  of  the  present  edition  of  Marsh's  Book- 
keeping, have  thought  proper  to  omit  the  Recommendations, 
which  were  printed  in  the  first  edition ;  for  the  work  so  easily 
commends  itself  to  its  readers,  and  so  fast  does  ks  popularity 
extend,  that  they  consider  such  efforts  weak  and  superfluous : 
besides,  the  number  of  recommendatory  notices  is  now  much 
greater,  and  in  adding  them  to  the  volume  they  would  either 
augment  the  price  or  diminish  the  profit  in  a  degree  alike  un- 
pleasant to  its  purchasers  or  publishers.  Their  object  is  to  make 
the  work  cheap  as  well  as  useful ;  for,  among  the  popular  works 
on  this  subject,  there  is  not  one  the  price  of  which  may  be  said 
to  be  cheap  or  even  reasonable  in  proportion  to  that  of  school 
books  in  general. 


A   CARD. 


THOSE  who  wish  to  avail  themselves  of  C.  C.  Marsh's  course 
of  practical  lessons,  either  as  teachers  or  accountants,  are  informed 
that  he  continues  to  give  instruction  at  No.  72  Cedar  St.  New- York, 
and  will  probably  continue  at  or  near  that  place. 

(4) 


TO 

STEPHEN  GIRARD,  ESQ. 

THE  FINANCIER  AND  PHILANTHROPIST 

OP   THE 

WESTERN   HEMISPHERE: 

THE    PATRON    OF 

COMMERCE  AND  INTERNAL  IMPROVEMENT: 

THE    PROTECTOR    OF 

HONEST   INDUSTRY: 

WITH  SENTIMENTS  OF  ESTEEM 
THIS  VOLUME  IS  MOST  RESPECTFULLY  DEDICATED,  BY 

THE  AUTHOR. 


PREFACE. 


HAVING  devoted  years  to  the  study  and  practice  of 
accounts,  I  have,  from  various  processes  of  experience 
and  observation,  ascertained  that  the  branch  of  know- 
ledge called  Book-keeping,  is  far  in  the  rear  of  many 
of  less  general  importance.  Few,  indeed,  are  they 
who  possess  more  than  a  partial  insight  into  this  useful 
branch  of  a  common  education — the  counsellors  at  law 
seem  scarcely  aware  that  it  belongs  to  their  profession 
and  are  often  found  ignorant  of  it ;  merchants  and  clerks 
are  often  but  barely  initiated  into  its  theory  or  practice, 
being  confined  by  a  monotonous  routine  of  a  contracted 
business ;  and  the  teachers,  left  entirely  to  the  imper- 
fections of  books,  have  almost  despaired  of  ever  ren- 
dering satisfaction  in  this  department  of  literature.  To 
what  cause  must  we  attribute  such  a  degree  of  igno- 
rance in  a  science  of  daily  importance  to  every  man 
in  civilized  society  ?  Shall  we  find  an  excuse  for  our- 
selves in  declaiming  against  this  science  as  compli- 
cated and  abstruse  ?  No  !  far  from  it.  We  are  happy 
in  entertaining  an  opinion  far  more  favorable  to  its 
character — we  see  this  science  from  its  foundation, 
and  can  perceive  no  indication  of  abstruse  ideas  or 
deep  and  hidden  principles ;  on  the  contrary,  it  is  a 
science,  the  theory  of  which  teems  with  the  simplest 
truths ;  and  its  practice  consists  of  the  common  and 
daily  occurrences  of  life  with  which  all  must  have  some 
intercourse.  All  the  abstruseness  attributed  to  Book- 
keeping belongs  entirely  to  the  systems  upon  which  it 
has  been  exhibited,  and  not  to  the  science  itself.  We 


Vlll  PREFACE. 

believe  authors  have  mistaken  the  method  of  simplifi- 
cation ;  for  they  have  directed  their  energies  to  formi 
of  books  or  their  number,  when  they  should  have  in- 
vestigated its  principles,  erased  superfluous  or  redun- 
dant rules,  amalgamated  the  many  divisions  into  which 
it  has  been  divided,  and  thereby  presented  to  the  mind 
something  like  unity. 

Impressed  with  this  view  of  circumstances,  I  re- 
solved to  produce  a  system  of  Book-keeping  untram- 
melled by  division  and  subdivision ;  real  accounts  and 
unreal  accounts;  his  account  proper  and  improper; 
rules  first,  second,  and  third,  &c.  ad  infinitum ;  and 
instead  of  multiplying,  reduce  the  science  to  such  a 
state  of  simplicity  as  will  render  it  accessible  and  in- 
teresting to  the  youthful  capacity. 

In  completing  this  resolution,  I  have  been  aided  by 
a  number  of  friends  and  a  generous  public,  who  have 
encouraged  me  by  an  extensive  list  of  subscribers ; 
for  which  signal  respect  and  favor  it  is  pleasure  to 
acknowledge  myself  indebted. 

In  the  prospectus  of  this  work  I  promised  that 
"  every  difficulty  in  which  the  science  of  Book-keeping 
is  generally  understood  to  involve  the  learner,  should 
be  entirely  obviated  by  the  simplifying  capacity  of  a 
rule  for  debtor  and  creditor."  In  this  assurance  is 
embraced  all  that  can  be  reasonably  desired  of  an  art 
or  science :  whether  or  not  I  have  answered,  to  the 
public  satisfaction,  the  claims  to  which  such  an  assu- 
rance subjected  me,  is  not  in  my  province  to  decide — 
time  most  surely  is  the  great  distinguisher  of  merit 
and  demerit.  But,  to  take  time  by  the  forelock  and 
anticipate  his  decision;  to  elicit  the  attention  of  the 
sceptical,  and  give  to  the  book  an  aspect  worthy  the 
respect  of  all ;  I  have  submitted  my  improvements  to 


PREFACE.  ix 

a  number  of  the  best  judges  and  highly  respected  citi- 
zens, who  in  the  most  courtly  manner  made  my  book 
the  recipient  of  their  approbation. 

The  arrangement  of  the  matter  in  this  work  cannot 
but  prove  acceptable  to  its  readers ;  for  instead  of 
intermixing  the  explanations  with  the  accounts,  we 
have  them  entirely  separate — making  in  the  volume 
two  important  divisions.  The  second  consists  of  the 
account  books  of  six  months'  transactions  of  a  part- 
nership business ;  commencing  with  the  simplest  kind 
of  occurrences,  and  advancing  as  gradually  as  possible 
into  the  more  extensive.  The  number  of  transactions 
in  the  Day-Book  is  one  hundred  and  twenty-five,  of 
which  scarcely  two  can  be  found  alike.  The  object  of 
such  a  variety  is  evidently  to  present  the  reader  with 
a  very  extended  view  of  the  subject,  and  to  give  an 
opportunity  of  anticipating  and  disposing  of  every 
difficult  or  singular  transaction  that  may  in  probability 
require  attention,  in  a  commercial  house  or  elsewhere. 
These  transactions  are  of  modern  character ;  extend- 
ing into  all  the  departments  of  commerce,  and  embra- 
cing those  which,  though  of  common  occurrence  in 
commercial  life,  are  unmentioned  in  other  works  upon 
Book-keeping. 

The  first  part  or  division  of  this  volume  is  wholly 
devoted  to  the  purpose  of  teaching.  It  contains  lucid 
explanations  of  almost  every  word  in  the  other  part 
of  the  book ;  and  it  is  confidently  believed  that  by  an 
attentive  perusal  of  this  part,  a  person  of  common 
capacity  can  obtain  a  good  practical  knowledge  of 
accounts. 

The  avowed  object  of  this  work  is  to  teach  the 
science  of  Book-keeping  to  the  full  extent  of  its  theory 
and  practice  ;  not  to  teach  a  particular  system  of  Book 

2 


X  PREFACE. 

keeping,  but  the  whole  science  itself,  which  when  once 
understood  can  never  be  forgotten ;  because  such 
knowledge  must  be  founded  upon  a  man's  reason,  and 
not  upon  his  memory. 

To  say  a  system  of  Book-keeping  is  adapted  to  all 
kinds  of  business,  is  preposterous,  (however  often  we 
may  see  that  sentence  in  the  title-pages  of  books  upon 
this  subject) ;  for  we  consider  it  as  impossible  for  one 
system  of  accounts  to  answer  the  necessities  and 
peculiarities  of  every  business,  as  it  is  for  one  key  to 
suit  the  wards  of  every  lock  in  Christendom.  This 
work  promises  no  such  inconsistency. 

To  understand  the  science  of  Book-keeping  is  to  be 
able  to  adapt  that  science  to  any  business.  Every 
business  has  its  peculiarities,  and  no  person  is  as 
capable  of  forming  a  system  of  accounts  to  suit  a 
business  as  the  person  engaged  in  that  business.  Let 
a  person  understand  the  contents  of  this  work,  and  he 
will  not  only  understand  Book-keeping,  but  also  all 
works  upcn  the  subject  at  presentation  of  the  same ; 
for  they  are  only  contracted  exhibitions  of  the  subject 
or  parts  of  it : — thus,  if  you  show  a  person  a  smal) 
piece  of  a  beaver  hat,  who  has  never  seen  a  whole 
hat,  he  will  not  know  what  it  is ;  but  show  him  the 
whole  hat  before  you  show  him  the  piece,  and  he  will 
not  hesitate  in  recognising  any  part  of  the  whole. 

That  this  work  will  prove  a  valuable  acquisition  to 
our  schools,  our  counting-houses,  and  to  the  libraries 
of  those  interested  in  the  department  of  literature 
upon  which  it  tieats,  is  the  sincere  belief  of  the 

AUTHOR. 

Philadelphia    November,  1833. 


CONTENTS. 


Advertisement,     •    -    - 

Dedication,      -    -    -    - 
Preface,      -    -    -    -    - 
Directions  to  Teachers, 
Vocabulary  of  Terms,     - 


Page  3 

-  -    5 

-  -    7 

-  -  13 

-  -  15 


Infallible  Rule, 20 

Journalising, 21  to  26 

Journalising, 29  to  42 

Posting,      ------   27  to  29 

Trial  Balance,     -    -    -    -  42  &  48 

Balance  Sheet, 49 

Closing  Accounts, 52 

Opening  New  Books,    -    -    -    -  53 

Day-Book, 55 

Journal, 81 

Leger, 97 

Cash-Book, 147 

Invoije-Book, 151 

Sales-Book, 155 

Commission-Sales-Book,  -  -  159 
Bill-Book,  Rec'ble  &  Payable,  165 
Account-Current-Book,  -  -  -  171 

Letter-Book, 175 

Bills  of  Exchange,  Notes,  Drafts, 

Orders,  &c. 183 

Calculations,  Discount  &  Interest,  185 
Equation  of  Payments,  -  -  -  186 
Questions  and  Answers,  189  to  197 
Foreign  Moneys,  -  -  -  -  199 

The  six  months'  Business,  embraced 
in  the  Day-Dook. 

JANUARY — 57. 

Opening  Partnership  Accounts. 
Buying  and  Selling. 
Receiving  and  Paying  Debts. 
Loans  on  account  and  on  Notes  with 
Interest. 


FEBRUARY — 58. 

Paying  Notes. 

Paying  Expenses. 

Shipping  on  our  Account. 

Closing  an  Account. 

Failures. 

Delivering  an  Order  for  Goods. 

Importing  Goods. 

Accepting  Drafts. 

Shipping  on  Account  of  Others. 

Bartering. 

Exchanging  Notes. 

Discounting  Notes. 

Order  at  Sight. 

Issuing  Bills  of  Exchange. 

Shipping  and  Insuring. 

MARCH 61. 

Receiving  and  Selling  Consignments 
Refunding  for  Damages. 
Paying  Drafts. 
Selling  at  Auction. 
Closing  Consignment  Account 
Receiving  Account-Sales. 
Company  Property. 
Buying  Bills  of  Exchange. 
Partner  withdraws  money. 
Bartering. 

Closing  Account  of  Company  Prop- 
erty. 

APRIL — 65. 

Receiving  Returns. 
Selling  on  Commission. 
Renewing  Notes. 
Paying  for  Damages. 
Cashing  Notes  in  hand. 
Closing  Account. 
Buying  at  Auction. 


CONTENTS. 


Selling  Bills  of  Exchange. 

Exchanging  Money*  at  Discount. 

Renewing  Notes. 

Drawing  Prize. 

Getting  Money  accidentally. 

Receiving  and  buying  a  Consignment. 

MAY— 68. 

Shipping  in  Company. 
East-India  Business. 
Shipping  Mdse.  rec'd  on  Consignment. 
Buying  and  Remitting  Drafts. 
Receiving  Cash  for  Another. 
Receiving  Returns. 
Selling  Shipped  Goods. 
Buying  in  Company. 
Receiving  Consignments  of  which  we 
own  a  Part 

JUNE — 72. 
Settling  a  Company  Shipment  Acct. 


Buying  Bank  Stock.  Buying  Bank 
Stock  for  Another. 

Receiving  Account-Sales  and  draw- 
ing1 tor  net  Proceeds. 

Recovering  of  Insurance  Company. 

Buying  of  Spanish  Dollars. 

Paying  Protested  Bill. 

Closing  Account  Company  Property. 

Lending  on  Bottomry. 

Insuring  for  Another. 

JULY 77. 

Closing  Account  of  Co.  Property  with 

Part  on  Hand. 

Partners'  Interest  on  Capital. 
Closing    Entries    of    Property    and 

Debts. 

Closing  Entries  of  Profits  and  Losses. 
Division  of  the  Profits. 
Closing  of  Balance  Account. 


DIRECTIONS  TO  TEACHERS. 


THE  Student  may  be  possessed  of  three  blank  books  of  foolscap 
size,  ruled  to  correspond  with  the  forms  of  the  Day-book,  Journal,  and 
Leger ;  and  a  volume  of  this  work. — He  may  then  transcribe  the  first 
two  months'  transactions  in  the  Day-book,  inserting  his  own  name  in 
place  of  "  Thos.  Blanchard,"  and  leaving  the  small  left  hand  column 
in  the  Day-Book  blank — Next  he  may  put  those  Day-Book  entries  into 
his  Journal,  and  next  post  the  Journal  entries  into  the  Leger ;  next  take 
a  Trial-Balance  and  correct  all  his  errors.  Then  again  transcribe 
from  the  Day -Book,  &c.  &c.  It  would  be  well  when  the  months  of 
January,  February,  and  March  are  posted,  for  the  student  to  make  out 
a  Balance  Sheet,  and  close  the  accounts  in  the  manner  described  under 
the  date  of  July  4th. 

It  is  recommended  that  the  Journal  entries  and  closings  be  dwelt  on, 
that  the  student  may  think  or  reason,  rather  than  remember. 


VOCABULARY 

OF 

TERMS  USED  IN  BOOK-KEEPING. 


Day- Boole. — The  book  in  which  is  written  a  plain  and  concise  history 
of  every  transaction  of  the  business.  The  Day-Book  is  the  most 
important  book  of  a  set  of  account  books. 

Journal. — The  book  by  which  the  debtors  and  creditors  with  their 
amounts  are  conveyed  from  the  Day-Book  into  the  Leger. 

Leger. — From  the  Latin,  "  to  gather  up." — The  book  exhibiting  the 
accounts  of  all  our  debtors  and  creditors. 

Cash-Book. — The  book  in  which  is  written  every  sum  of  cash  received 
or  paid.  The  entry  should  be  made  at,  or  as  near  the  time  of 
paying  or  receiving  as  possible.  The  debtor  and  creditor  pages 
of  this  book  should  be  added  and  subtracted,  (in  a  brisk  business) 
at  the  close  of  evejy  day,  and  the  balance  should  be  the  amount 
of  cash  at  command.  It  is  usual  to  make  only  one  entry  of  all 
cash  received  during  the  month,  from  the  Cash-Book  into  the  Day- 
Book. 

Invoice-Book. — The  book  in  which  are  copied  all  bills  and  invoices  of 
merchandise  purchased  or  received  into  your  possession.  This 
book  is  useful  because  it  contains  a  minute  description  of  the  mer- 
chandise with  which  you  are  concerned ;  it  is,  however,  a  dupli- 
cate of  original  Bills  and  Invoices  which  must  be  preserved.  It 
is  usual  to  make  only  one  entry  of  all  the  purchases  during  the 
month,  from  the  Invoice-Book  into  the  Day-Book. 

Sale-Books. — The  book  containing  a  description  of  all  the  merchandise 
you  have  sold  or  delivered.  When  a  person  purchases,  a  descrip- 
tion of  quantity,  quality,  and  price  of  the  goods  should  be  made 
in  the  Sales-Book,  from  which  the  bill  for  the  purchaser  should  be 
made  out — by  which  the  power  is  preserved  of  rendering  a  second 
or  third  bill  exactly  like  the  first.  It  is  usual  to  make  only  one 
entry  of  all  the  sales  during  the  month,  from  the  Sales-Book  into 
the  Day-Book. 

Commission- Sales-Book. — The  book  exhibiting  a  description  of  sales 
of  merchandise  sold  by  you  for  another. 

Account- Sales-Book. — When  merchandise  has  been  sold  on  commis 
sion,  the  seller  submits  or  transmits  to  the  person  for  whom  the 
goods  were  sold,  an  account  of  the  sales,  and  the  particulars  there- 
to relating;  this  account  is  copied  into  the  Account-Sales-Book. 
It  is  the  opinion  of  the  author  that  the  account-sa'cs  might,  be 
copied  into  the  Letter-Book. 


16  VOCABULARY. 

Letter-Book. — The  book  containing  copies  of  all  letters  written  by  you 
to  persons  concerning  your  business. 

Account-Current-Book. — When  two  parties  have  been  for  some  time 
transacting  business  by  correspondence,  &c.  &c.,  it  becomes  ne- 
cessary for  them  to  forward  to  each  other  a  description  of  the 
relation  the  business  has  caused  them  to  bear  to  each  other ;  this 
description  is  entitled  an  "  Account-Current,"  a  copy  of  which  is 
taken  in  a  book  of  the  same  name. 

Bill-Book. — The  book  in  which  are  described  all  the  Notes  in  ycur 
favor  or  against  you.  The  Notes  being  placed  in  a  secure  place, 
all  particulars  relating  to  them  are  obtained  by  reference  to  the  Bill- 
Book. 

Receipt-Book. — The  book  containing  written  acknowledgments  of  pay- 
ments. 

Check-Book. — The  book  containing  blank  orders  on  banks. 

Book  of  Expenses. — The  book  for  entering  incidental  expenses ;  the 
amount  of  which  is  taken  into  the  Day-Book  monthly.  The  au 
thor  is  of  opinion  that  these  expenses  could  be  more  conveniently 
taken  from  the  Cash-Book. 

Account. — A  catalogue  of  debts  between  two  parties. 

Account- Sales. — A  description  of  the  particulars  attending  the  sale  of 
merchandise. 

Account-Current. — A  catalogue  of  debts  betireen  two  parties  up  to  tho 
present  time. 

Invoice. — A  description  of  merchandise,  its  quantity,  quality,  and 
price. 

Bill  of  Lading. — A  receipt  received  of  the  captain  of  a  vessel  for 
freighted  goods. 

Bill  of  Exchange,  or  Set  of  Exchange. — A  draft  or  order  drawn  by 
a  person  in  one  country  on  a  person  in  another — it  receives  the 
title  of  "  exchange,"  because  it  extends  from  one  currency  into 
another — and  it  receives  the  title  of  "  set,"  because  the  Bill  of 
Exchange  consists  of  three  or  four  orders  purporting  exactly  the 
same — upon  one  of  them  being  paid,  the  remaining  two  or  three 
are  of  no  value. 

Draft. — An  order  drawn  by  one  person  against  another,  for  the  pay- 
ment of  value. 

An  Order. — A  paper  requesting  the  payment  of  value. 

Bills  Receivable. — A  title  given  to  promissory  Notes,  and  other  papers, 
in  your  favor. 

Bills  Payable. — A  title  given  to  Notes,  and  other  papers  drawn  against 
you. 

Rate  of  Exchange. — The  per  centum  above  or  below  the  par  value  of 
a  Bill  of  Exchange. 

Grace. — The  time  added  to  the  specified  time  for  the  payment  of  Notes, 
&c.  In  this  country  the  grace  is  three  days. 

Sight. — The  time  for  paying  Drafts,  &c.  A  Draft  at  sight,  is  payable 
on  ks  being  presented,  or  upon  the  third  day  after. 

Par. — The  specified  value,  without  premium  or  discount. 


VOCABULARY.  17 

Face. — The  amount  for  which  a  Note  is  drawn. 

JFtonor  a  Draft. — To  pay  a  Draft. 

Defalcation. — Cutting  off,  diminution. 

Acceptance. — When  a  Draft  is  accepted,  it  is  called  an  acceptance. 

Accept. — To  endorse.     In  accepting  a  Draft,  the  endorser  becomes  re- 
sponsible for  the  amount  of  its  face. 

Endorse. — To  write  your  name  upon  the  back  of  a  paper. 

Special  Endorsement. — That  endorsement  which  particularizes  to  whom 
a  within  amount  is  to  be  paid. 

Drawer. — The  author  of  a  draft  or  order. 

Payee. — The  person  to  whom  money  is  payable. 

Advance. — An  addition  or  per  centum  above  a  certain  value. 

Premium. — A  per  centum  above  the  par  value  of  Notes,  Money,  &c. 

Interest. — An  amount  allowed  for  the  use  of  money,  &c. 

Discount. — An  amount  deducted  for  premature  payment ;  interest  de- 
ducted. 

Renew. — To  give  a  new  Note  in  payment  of  an  old  one. 

Brokerage. — The  amount  charged  for  transacting  business. 

Commission. — The  amount  charged  for  transacting  business. 

Insurance. — The  amount  charged  for  insuring  property. 

Underwriters. — The  officers  whose  names  are  attached  to  a  policy  of 
insurance. 

Policy. — The    document  received  of  an  Insurance  company  when 
property  is  insured. 

Duty. — A  tax  imposed  by  law  upon  imported  merchandise. 

Ad  valorem. — Upon  the  invoice  amount,  or  first  cost. 

Protest. — A  declaration  through  the  office  of  a  Notary  Public  of  the 
non-acceptance  or  non-payment  of  Drafts  or  Notes. 

Per. — By ;  by  the. 

Per  Cent. — By  the  hundred. 

Drawback. — A  return  of  duty. 

Debenture. — A  certificate  entitling  the  exporter  of  imported   merchan 
disc  to  a  return  of  duty. 

Advice. — Information  ;  notification. 

Consignment. — Merchandise   in  state  of  transportation  :  merchandise 
shipped. 

Assignment. — Property  made  over  to  another,  or  transferred. 

Consignee. — The  person  to  whom  merchandise  is  shipped. 

Shipment. — Merchandise  that  is  shipped. 

Total  sales. — The  gross  amount  produced  by  the  sale  of  property. 

Net  Proceeds. — The  gross  amount,  less  all  charges  or  expenses. 

Bond. — A  Note  with  security. 

Bottomry  Bond. — A  mortgage  upon  a  vessel. 

Favor. — A  Note  is  in  "  favor"  of  the  person  to  whom  the  amount  is 
payable. 

On. — A  Note  is  "  on"  or  against  the  person  who  is  to  pay  it. 

Capital. — The  clear  amount  advanced  in  a  business. 

Sundries. — More  than  one. 

Solvent. — Competent  to  pay  all  just  debts. 

B2  3 


1 8  VOCABULARY. 

Insolvent. — Incompetent  to  pay  all  just  debts. 

Effects. — Property  and  Debts  in  your  favor  or  against  you. 

Inventory. — A  catalogue  of  goods. 

Balance. — The  difference  between  the  debtor  and  creditor  amounts  of 
an  account. 

Trial-Balance. — An  attempt  to  balance.  A  collection  of  all  the  balances 
in  the  Leger,  to  ascertain  if  the  debtor  balances  equal  the  creditor 
balances. 

Balance- Sheet. — An  exhibition  of  all  the  balances  of  property  and  debts, 
and  profits  and  losses. 

To  Balance. — To  make  the  debtor  and  creditor  sides  of  an  account 
equal. 

Closing  an  Account. — Balancing  .an  account. 

Entry. — A  record  made  in  an  account  book. 

Journalise. — To  make  entries  in  the  Journal. 

Post. — To  make  entries  from  the  Journal  into,  the  Leger. 

Legerise. — To  make  entries  from  the  Journal  into  the  Leger 

Debtor. — The  person  or  thing  that  owes. 

To  Debit. — To  make  an  entry  on  the  debtor  side  of  an  account. 

Creditor. — The  person  or  thing  that  is  owed. 

To  Credit. — To  make  an  entry  on  the  creditor  side  of  an  account. 

Dollar. — A  name  given  to  a  certain  quantity  of  value. 

Profit  and  Loss. — A  title  given  to  the  business ;  an  account  opened  to 
represent  the  business. 

Cash. — A  species  of  merchandise ;  money.  Cash  differs  from  other 
merchandise  only  because  it  has  a  publicly  acknowledged  par 
value ;  therefore  paper  money  (though  only  a  sign  of  cash)  is 
called  cash. 

"Real  Accounts." — Accounts  which  represent  property. 

"Personal  Accounts." — Accounts  which  represent  persons. 

"Imaginary,  or  Fictitious  Accounts." — Accounts  which  represent  the 
business  and  its  branches  ;  as,  profit  and  loss,  commission,  store 
expenses,  &c. 

The  distinction  of  real  personal,  and  fictitious  accounts  is  useless  in  the 
study  or  practice  of  Book-keeping,  and  in  fact  the  distinction  is 
erroneous ;  for  every  account  is  fictitious  or  imaginary  ;  they  are 
not  the  things  themselves,  they  only  represent  the  merchandise, 
the  persons,  and  the  business — the  difference  between  these  ac- 
counts is  nothing,  they  are  all  made  debtor  for  the  same  cause,  and 
creditor  for  the  same  cause. 

Stock  Account. — An  account  that  represents  the  merchant  or  owner  of 
the  books.  There  is  no  stock  account  opened  in  the  Leger  of  this 
book.  The  author  perceives  no  propriety  in  substituting  the  word 
"  stock"  for  the  name  or  names  of  the  merchants  or  owners  of  the 
books ;  he  has  therefore  dispensed  with  the  account  called  stock, 
and  given  the  partners  credit  for  the  amount  of  their  advancements. 
Stock  account  has  been  classed  among  the  fictitious  accounts ;  it 
is,  however,  as  much  of  a  personal  account  as  the  account  of  John 
Sims,  for  they  both  represent  persons. 


VOCABULARY.  1ft 

Profit.— Gain. 

Loss. — ]>.s.s  than  no  gain.  % 

Dividend. — Amount  for  division  :  profit  to  be  divided. 

Duplicate. — A  copy. 

Signature. — The  name  of  a  person  in  his  own  writing. 

Effected  Insvrance. — Accomplished  the  business  of  getting  property 
insured. 

Instant. — The  present  month. 

Ultimo. — The  last  month. 

Proximo. — The  next  month. 

Contra. — Opposite. 

Double-Entry. — Twice  entered.  Book-keeping  by  double-entry  re- 
quires every  sum  to  be  placed  ^at  two  accounts  in  the  Leger,  on 
the  debtor  side  of  one  and  on  the  creditor  side  of  the  other. 

Single-Entry. — Once  entered.  Single-entry  Book-keeping  is  u  sys- 
tem of  keeping  accounts  which  enables  its  adopter  to  keep  only 
half  of  his  accounts. 

Waste- Book  or  Blotter. — The  book  in  which  entries  are  made  care- 
lessly. 

Alphabet  or  Index. — The  Index  to  the  Leger  is  commonly  in  a  sepa- 
rate volume.  As  soon  as  an  account  is  opened  in  the  Leger,  it 
should  be  placed  in  the  Index. 

Italian  Method  of  Book-keeping. — Book-keeping  by  double-entry.  It 
is  not  improbable  that  the  Italians  invented  this  science,  consider- 
ing their  commercial  character  and  that  of  the  Lombards  who 
were  extensive  capitalists  and  money-lenders. 


THE  SCIENCE 

OF 

DOUBLE-ENTRY  BOOK-KEEPING, 

SIMPLIFIED. 


ALL  the  explanations  contained  in  this  work  will  be  found  upon  the 
immediately  following  pages.  The  reader  need  not  look  into  the  Day- 
book, Journal,  nor  Leger  for  any  thing  explanatory ;  for  the  contents 
of  those  books  relate  entirely  to  business,  and  not  to  teaching ;  by  which 
arrangement  the  reader  will  derive  the  advantages  of  knowing  which 
part  of  the  book  is  to  serve  as  his  teacher,  and  which  he  is  to  be  taught. 

INFALLIBLE    RULE. 

In  order  to  render  that  division  of  the  subject  commonly  considered 
difficult — simple,  positive,  and  rational,  and  to  conduct  the  mind  with 
ease  into  its  own  elements,  securing  at  every  degree  of  advancement  a 
clear  understanding  of  whatever  arises  for  consideration,  I  cannot  re- 
commend a  too  close  observance  of  the  one  and  only  rule  needful. 
This  rule  originates  thus — 

Book-keeping,  or  the  science  of  accounts,  is  a  systematic  exhibition 
of  all  that  is  owed  us  and  all  that  we  owe — these  are  our  credits  and 
those  our  debtors.  Consequently  the  whole  science  is  founded  upon 
the  two  words,  Debtor  and  Creditor  ;  hence  arises  the  one  rule,  infal- 
lible in  its  application,  and  in  its  truth  self-evident. 

THE    RULE. 

Whoever  or  whatever  owes  us  is  Debtor — 
Whoever  or  whatever  we  owe  is  Creditor. 

Or,  in  other  words, 

All  persons  or  things  that  owe  us  are  Debtor — 
All  persons  or  things  that  we  owe  are  Creditor. 

Or  briefly, 

Debit  whatever  owe  us,  and 
Credit  whatever  we  owe. 

The  Day-book  commences  with  a  record  of  the  situation  of  the  party 
or  parties  entering  into  business ;  and  It  should  exhibit  a  clear,  plain 
and  concise  history  of  the  business — not  the  slightest  variation  from 
truth  should  be/permitted,  upon  the  peril  of  losing  the  ability  to  prove 
that  book  valid,  and  rendering  it  unimportant  in  the  opinion  of  judicial 
authority.  In  recording  a  transaction  in  the  Day-book,  we  do  not  say 


JOURNALISING.  21 

who  is  debtor  nor  who  is  creditor ;  this  is  the  contents  of  anolhet 
book,  the  Journal. 

The  capital  being  advanced;  the  Cash  deposited  iiyjie  banks,  in  tho 
name  of  the  firm,  Blanchard  &  Marsh,  the  Notes  described  in  the  bills 
receivable  and  payable  books,  the  inventory  of  hardware  copied  into 
the  invoice  book,  and  the  articles  of  agreement  signed  and  exchanged ; 
the  following  is  the  entry  made  in  the 

Day -Book — January  5,  1829. 

Thos.  Blanchard  and  C.  C.  Marsh  having  as  per  agreement  dated 
first  instant  entered  into  partnership,  advanced  the  following  capital : 
Thos.  Blanchard  advances  Cash  26,000$,  and  Notes  2,000$,  amounting 
to  28,000$. — C.  C.  Marsh  advances  Cash  12,000$,  Notes  2,670$,  Hard- 
ware 3,125$,  and  a  claim  on  Charles  Lawrence  140$,  amounting  to 
17,935$ — and  jointly^to  45,935$. 

THE    RULE. 

Whoever  or  whatever  owes  us  is  Debtor — 
Whoever  or  whatever  we  owe  is  Creditor. 

The  Journal  commences  with  an  entry  formed  from  the  first  entry 
in  the  Day-book,  consisting  of  a  deduction  of  all  the  debtors  and  cred- 
itors ;  for  the  purpose  of  conveying  the  same  into  the  Leger. — These 
deductions  or  Journal  entries  are  made  by  the  application  of  THE  RULE, 
which  will  be  found  true  in  producing  a  correct  result. 
-  The  journal  entry  of  the  first  Day-book  entry  is  as  follows  : 
Journal — Sundries  Dr.  to  Sundries. 

Cash, $38,000 

Bills  Receivable, 4,670 

Hardware, 3,125 

Charles  Lawrence, 140 

$45,935 

To  Thos.  Blanchard, 28,000 

"   C.  C.  Marsh, /'. . .    17,935 

45,935 

Elucidation. — This  entry  commences  with  a  preface,  viz ;  "  Sun- 
dries Dr.  to  Sundries,"  signifying  that  it  contains  more  than  one  debtor, 
and  also  more  than  one  creditor ;  which  immediately  follow  the  preface. 

Cash  is  debtor,  because  that  species  of  property  owes  us  a  quantity  of 
value  :  the  amount  of  that  value  is  called  $38,000,  which  is  in 
that  kind  of  merchandise  denominated  cash,  and  for  which  sum 
Cash  is  therefore  <j^btor. 

Bills  Receivable  are  debtor,  because  the  Notes  advanced  owe  us  for  the 
amount  of  value  for  which  they  are  drawn,  being  $4,670. 

Observe  that  the  persons  by  whom  those  Notes  are  drawn  do  not  owe 
us,  but  that  the  notes  themselves  are  responsible  for  the  value,  for 
it  is  by  possessing  them  that  we  can  ask  payment  of  the  value. 

The  title  of  Bills  Receivable  is  applicable  to  all  species  of  paper  claim, 
but  there  is  no  occasion  for  giving  anything  a  title  until  we  have 
determined  whether  that  thing  owes  us,  or  whether  we  owe  it. 


22  JOURNALISING. 

Hardware  is  debtor,  because  that  property  owes  us  the  amount  of 
$8,125.  In  this  instance  we  open  an  account  for  hardware  instead 
of  merchant ;se,  because  it  is  our  wish  to  know  the  gain  or  loss  on 
that  species  of  property.  An  account  of  merchandise  will  never- 
theless be  opened  for  other  kinds  of  property. 

Chas.  Lawrence  is  debtor,  because  he  owes  us. 

Thos.  Blanchard  is  creditor,  because  he  is  owed — he  is  owed  individu- 
ally by  the  firm,  Blanchard  &  Marsh,  for  the  amount  he  has  ad- 
vanced in  the  concern,  being  $28,000- 

C.  C.  Marsh  is  creditor,  for  the  same  cause  as  is  Blanchard. 

In  the  Journal,  a  distinction  is  made  between  the  debtors  and  credi- 
tors by  their  position,  and  the  word  "  To."  The  position  of  the  debtors 
is  perpendicularly  under  the  first  word  "  Sundries."  The  position  of 
the  creditors  is  about  an  inch  in  the  rear  of  the  debtors,  and  must 
always  have  the  word  "  To"  before  them. — See  the  Journal  entries. 
The  amount  of  the  debtors  should  be  ascertained  and  placed  in  the 
column  for  dollars  and  cents,  as  also  should  the  amount  of  the  creditors  ; 
these  amounts  must  correspond  with  each  other.  This  correspondence 
is  an  invariable  consequence  of  the  debtors  and  creditors  being  proper- 
ly selected  from  the  transaction. 

NOTE. — When  an  entry  is  made  in  the  Journal,  we  place  the  page  of  the  Journal  against 
the  Day-book  entry. 

Dag-Book* — Second  entry  of  January  5. 

Thos.  Blanchard  &  C.  C.  Marsh  are  indebted  to  Notes  in  favor  of 
sundry  persons,  as  per  Bill  Book — on  Thos.  Blanchard  for  $1,080,  and 
on  C.  C.  Marsh  for  $1,230— jointly  amounting  to  $2,310. 
Journal. — Sundries  Dr.  to  Bills  Payable. 

Thos.  Blanchard, " 1,080 

C.  C.  Marsh, 1,230 

$2,310 

Elucidation. — In  this  entry,  as  in  the  former,  the  debtors  are  pre- 
faced with  the  term  "  Sundries,"  and  as  the  transaction  has  in  it  only 
one  creditor,  it  follows  without  any  preface ;  thus,  "  To  Bills  Payable." 
Immediately  under  the  first  "  Sundries,"  are  placed  the  two  debtors, 
being 

Thos.  Blanchard,  who  is  debtor  because  he  owes,  individually  owes, 
the  firm ;  which  is  shown  by  his  advancing  a  debt  to  be  paid  out 
of  the  capital  belonging  to  Blanchard  &  Marsh. 
C.  C.  Marsh  is  also  a  debtor,  and  for  the  same  cause. 

Bills  Payable  are  creditor,  because  the  papers,  to  which  it  is  the  cus- 
tom to  give  that  title,  hold  us  responsible ;  therefore  we  owe  them.  An 
amount  for  the  creditor,  Bills  Payable,  should  be  obtained  by  adding 
the  two  debtor  amounts,  and  if  that  amount  be  not  what  you  owe  to 
Bills  Payable,  then  the  amounts  from  which  it  is  obtained  are  incorrect. 
Day-Boole. — January  7. 

Paid  Cash  for  sundry  Store  Fixtures,  bought  of  W.  Wharton, 
amounting  to  $300. 


JOURNALISING.  23 

Journal. — Store  Fixtures  Dr. 

To  Cash, $300 

Elucidation. — Store  Fixtures  are  a  species  of  property  that  has  cost 
as  an  amount  of  value,  for  which  it  is  responsible,  therefore  the  prop- 
erty owes  us. 

Cash  is  creditor,  because  we  owe  the  species  of  property  called  Cash, 
for  paying  for  the  Fixtures  for  us. 

-  Observe  that  when  we  write  "  Store  Fixtures  Dr.  to  Cash,"  we  do 
not  mean  that  the  former  owes  the  latter,  but  only  that  the  former  is 
debtor,  and  the  latter  is  creditor ;  and  that  there  are  in  such  an  entry 
two  distinct  sentences,  contracted  or  abbreviated.  Thus, 

Store  Fixture  are  debtor  to  us  for $300 

We  are  debtor  to  Cash  for $300 

This  is  the  Journal  entry  fully  expressed  or  containing  what  is  super- 
perfluous  when  subjected  to  the  scientific  form  ;  for  no  one  can  suppose 
the  entry  to  mean  that  the  Store  Fixtures  owe  any  other  than  ourselves, 
or  that  Cash  is  owed  by  any  other  than  ourselves ;  for,  if  so,  we  would 
be  keeping  the  accounts  of  others  instead  of  our  own,  which  is  adverse 
to  the  purpose  of  book-keeping,  in  relation  to  us,  viz.  to  furnish  us 
with  "  who  owes  us,  and  whom  we  owe."  So  then,  if  we  strike  out 
the  superfluous  part  of  the  above  full  entry,  we  shall  strike  out  the 
words  in  Italics.  The  reason  why  the  Italics,  "  we  are  debtor  for,"  in 
the  last  line,  aro  useless,  is  because  the  sentence  "  we  are  debtor  to 
Cash,"  signifies  that  Cash  is  our  creditor ;  and  knowing  that  there  are 
only  two  kinds,  debtors  and  creditors,  by  declaring  which  is  the  debtor, 
we  at  the  same  time  declare  which  is  the  creditor,  without  using  the 
word  creditor,  or  the  words  in  Italics.  As  for  instance, we  would  say  of 
two  inkstands,  red  and  black,  this  is  the  red  ink  ;  by  which  all  would 
understand  the  other  to  be  the  black  ink. 

Day-Book. — January  8. 

Sold  Hardware  to  Paul  Harris  at  sixty  days'  credit,  amounting  to  $325. 
Journal. — Paul  Harris  Dr. 

To  Hardware, $325 

Elucidation. — Harris  is  debtor,  because  he  ones  us — he  owes  us 
because  he  has  not  paid  for  the  Hardware  he  purchased  of  us. 

Hardware  is  creditor,  because  we  owe  that  property  for  the  value  it 
has  produced  us,  for  which  Harris  is  responsible. 

Bay -Book. — January  10. 

Sold  Hardware  to  Wm.  Biakely  on  his  Note  of  thirty  days,  $500. 
Journal. — Bills  Receivable  Dr. 

To  Hardware, $500 

Elucidation. — The  Note,  to  which  the  title  of  Bills  Receivable  is 
given,  owes  us  for  the  amount  of  value  the  Hardware  has  produced  ; 
therefore  it  is  debtor.  Hardware  is  creditor,  because  wt  owe  it  for 
producing  that  value. 


24  JOURNALISING. 

Day-Book. — January  12. 

Sold  Hardware  for  Cash  to  S.  H.  Lovell,  amounting  to  $125. 
Journal. — Cash  Dr. 

To  Hardware, $125 

Elucidation. — Cash  is  debtor,  because  it  owes  us  for  the  amount  of 
value  produced  by  the  Hardware,  for  that  value  is  in  the  Cash.  Hard- 
ware is  creditor,  because  we  owe  it  for  producing  the  value  it  has  pro- 
duced. 

Day-Book. — January  13. 

Sold  Hardware  to  Oliver  Otis  &  Co.,  for  which  they  are  to  pay,  on 
the  19th  instant,  one  half  in  Cash  and  the  other  half  in  Note,  &c. 
$2,000. 

Journal. — Oliver  Otis  &  Co.  Dr. 

To  Hardware, $2,000 

Elucidation. — Otis  &  Co.  are  debtor,  because  they  owe  us  for  the 
Hardware  sold  to  them,  they  not  having  paid  us  for  it.  Hardware  is 
creditor,  because  we  owe  it  for  producing  us  the  value  for  which  Otis  & 
Co.  are  responsible. 

Day -Book. — January  14. 

Bought  Hardware  of  H.  Austin  at  thirty  days,  $1,500. 
Journal. — Hardware,  Dr. 

To  H.  Austin, $1,500 

Elucidation. — The  Hardware  is  debtor  because  it  owes  us,  it  having 
cost  us  the  amount  of  value  for  which  we  are  responsible  to  Austin. 
Austin  is  creditor,  because  we  owe  him. 

Day-Book. — January  16. 

Bought  Rice  of  C«  Barnard,  &c.  paid  him  Cash  and  Hardware. 
Journal. — Rice  Dr.  to  Sundries : 

To  Cash, 2,000 

"    Hardware, 1,200 

$3,200 

Elucidation. — Rice  is  debtor  because  it  owes  us,  having  cost  us 
$3,200. 

Cash  and  Hardware  are  creditors,  because  we  owe  them  for  paying 
for  the  rice  for  us. 

Although  we  have  opened  accounts  for  two  kinds  of  merchandise, 
Hardware  and  Rice,  yet  it  does  not  follow  that  we  shall  not  open  an 
account  for  merchandise  ;  our  object  in  opening  those  accounts,  is  cer- 
tainly to  show  the  gain  or  loss  accruing  from  tWbse  articles. 

NOTE. — It  may  be  well  to  inform  the  reader,  that  transactions  expressed  in  the  Journal 
or  Journal  entries,  can  assume  only  four  forms:  that  is,  the  debtors  and  creditors  take  no 
more  than  four  positions  in  that  book. — One  of  these  forms  is  like  the  first  Journal  entry 
on  the  5th  of  January — another  is  like  the  second  Journal  entry  on  the  5th  of  January — 
another  is  like  the  Journal  entry  on  the  7th  of  January — another  and  the  last  is  like  the 
Journal  entry  on  the  16th  of  January.  By  referring  to  these  entries,  it  will  be  seen  that 
the  difference  in  position  is  caused  by  the  number  of  debtors  or  creditors  which  they  pos- 
sess— thus,  the  first  contains  several  debtors  and  creditors ;  the  second  contains  several 
debtors  and  one  creditor ;  the  third  contains  only  one  debtor  and  one  creditor;  and  the 
fourth  contains  one  debtor  and  several  creditors.  A  transaction,  therefore,  however  com- 
plicated always  takes  one  of  these  forms  when  expressed  in  the  Journal. 


JOURNALISING.  25 

Day-Book. — January  19. 

Received  of  O.  Otis  &  Co.,  in  full  for  Hardware  sold  to  them  on  13tb 
..list.,  their  Note  at  thirty  days  for  $1,000,  and  Cash  for  $1,000. 

Journal. — Sundries  Dr.  to  Oliver  Otis  &  Co. 

Bills  receivable, 1,000 

Cash, 1,000 

$2,000 

Elucidation — The  word  "  Sundries"  is  the  preface  to  the  debtors, 
which  are  under  their  preface. 

Bills  Receivable  are  debtor,  because  the  Note,  to  which  that  name  is 
given,  owes  us  for  half  of  the  amount  that  Otis  &  Co.  owed  us. 

Cash  is  debtor,  because  it  owes  us  for  half  of  the  amount  that  Otis  & 
Co.  owed  us. 

Oliver  Otis  &  Co.  are  creditor,  because  we  owe  them  for  paying  us 
the  amount  which  they  owed.  Observe  that  Otis  &  Co.  have  not  paid 
us  for  the  Hardware,  but  for  what  they  themselves  owed  us,  therefore 
we  must  give  them  credit. 

Day -Book. — January  21. 
Received  of  Paul  Harris  his  Note  at  Sixty  days,  &c.  for  $325. 

Journal. — Bills  Receivable  Dr. 

To  Paul  Harris, $325 

Elucidation. — The  amount  which  Harris  owed  us,  now  is  owed  to 
us  by  the  Note,  called  Bills  Receivable ;  it  is  therefore  debtor ; — and 
because  Harris  has  paid  us  what  he  owed  us,  has  brought  us  responsible 
to  him,  therefore  we  owe  him,  and  he  is  creditor. 

Day-Book. — January  22. 

Delivered  our  Note  to  Henry  Austin,  at  thirty  days,  in  full  for  bal- 
ance of  account,  for  $1,500. 

Journal. — Henry  Austin  Dr. 

To  Bills  Payable, $1,500 

Elucidation. — Austin  is  debtor,  because  he  owes  us,  we  having  paid 
him  the  amount  that  we  owed  him.  Bills  Payable  are  creditor,  because 
the  Note  to  which  that  name  is  given,  has  paid  Austin  for  us,  there- 
fore we  owe  it. 

Observe — It  may  appear  absurd  to  some,  to  say  that  Austin,  in  the 
above  transaction,  owes  us.  It  is  nevertheless  true;  and  is  proved  thus 
— Before  we  paid  him,  we  owed  him  $1,500.  After  we  paid  him,  he 
owes  us  $l,50^^Jf  not,*then  we  still  owe  him  ;  and,  as  we  do  not  still 
owe  him,  he  njj^By\ve  us  that  amount ;  and  by  his  owing  us  the  $1,500 
which  we  owedlp  him,  he  and  we  are  upon  an  equality,  or  the  account 
between  us  is  balanced. 

Day-Book. — January  24. 

Sold  Hardware  to  S.  H.  Lovell,  $250,  and  for  Cash,  to  sundry  per- 
sons, $160. 

C  4 


26  JOURNALISING. 

Journal. — Sundries  Dr.  to  Hardware. 

S.  H.  Lovell, 250 

Cash, 160 

Elucidation. — The  Sundries  are  debtor,  because  they  owe  us  for  the 
amount  of  value  that  the  Hardware  has  produced — the  production  con- 
sists in  Lovell  and  Cash,  who  are  the  debtors. 

Hardware  is  creditor,  because  we  owe  that  article  for  producing  $410. 

Day-Book. — January  28. 

Lent  Cash  to  Jas.  Truman  on  his  Note  at  twelve  months,  &c.  amount 
of  principal  $2000,  interest  for  twelve  months,  30  days  each,  and  the 
three  days  grace,  $121. 

Journal. — Bills  Receivable  Dr.  to  Sundries. 

To  Cash, 2,000 

"    Interest, 121 

$2,121 

Elucidation. — Having  lent  Cash  upon  interest,  we  hold  the  Note  re- 
sponsible for  the  whole — it  is  the  Note,  and  not  J.  Truman,  that  owes 
us  for  both  principal  and  interest,  and  to  the  Note  we  give  the  title  of 
Bills  Receivable. 

Cash  is  creditor,  because  we  owe  it  for  producing  the  Note  responsi- 
ble for  $2,000. 

Interest  is  creditor,  because  we  owe  that  branch  of  our  business  call- 
ed interest,  for  producing  us  $121,  which  value  is  in  the  Note. 

Observe,  that  in  this  science,  persons  and  things  are  alike  susceptible 
of  responsibility  :  that  is,  we  make  a  bag  of  coffee  debtor  or  creditor 
upon  the  same  principle,  or  for  the  same  cause  that  we  would  an  indi- 
vidual— we  make  our  business  or  a  branch  of  it.  (profit  and  loss,  com- 
mission and  interest)  debtor  or  creditor,  for  the  same  cause  that  we 
would  a  John  Sims,  viz :  that  of  his  owing  us,  or  our  owing  him. 
Rule. 

Day-Book. — January  30. 

Paid  Cash  to  the  Philadelphia  Bank,  for  our  Note  on  C.  C.  Marsh, 
in  favor  of  T.  P.  Cope  &  Sons,  now  due,  for  $1,230. 

Journal. — Bills  Payable,  Dr. 

To  Cash, $1,230. 

Elucidation. — The  Note  now  taken  up  or  paid  is  one  that  was  ad- 
vanced by  Marsh  at  the  commencement  of  this  partnoj^iip,  and  which 
he  issued  prior  to  that  time,  the  cause  of  its  being  oiBRlarsh,  and  not 
Blanchard  &  Marsh,  and  at  which  time  he  became  erector,  and  Bills 
Payable  creditor. 

Bills  Payable  are  debtor,  because  the  Note  to  which  that  title  is  given 
owes  us,  we  having  paid  the  amount  we  owed  it.  Cash  is  creditor,  be- 
cause we  owe  that  species  of  property  for  paying  for  the  Note  for  us. 

NOTE. — Journalising  is  resumed  at  the  end  of  Posting. 


POSTING.  27 

POSTING. 

THE  transactions  or  Day-Book  entries,  from  the  commencement, 
January  5th  to  January  30th,  having  been  journalised,  that  is,  prepared 
for  the  Leger,  we  will  now  commence  posting,  which  the  reader  will 
discover  to  be  very  simple ;  for  posting  or  legerising  is  merely  copying 
the  entries  from  the  Journal  into  the  Leger.  This  copying  is  for  the 
purpose  of  exhibiting  at  one  place,  all  concerning  one  thing  or  person 
that  is  to  be  found  in  the  whole  business.  For  instance,  if  we  take  the 
subject  of  Cash,  we  will  find  that  that  article  is  concerned  from  the 
beginning  of  our  business  to  the  end  ;  therefore,  if  we  do  not  bring  it 
all  to  one  place,  we  cannot,  without  much  trouble,  ascertain  the  amount 
we  have  received  and  paid.  By  the  aid  of  the  Journal,  or  the  principle 
by  which  it  is  filled,  we  deduce  from  every  transaction,  all  that  oice  us 
and  all  that  we  owe,  which  is  all  that  is  to  be  conveyed  into  the  Leger. 
The  Journal,  therefore,  operates  as  a  mode  of  conveyance  from  the 
Day-Book  into  the  Leger.  To  the  Leger  belongs  an  index,  which  is 
sometimes  a  part  of  the  same  volume ;  but  a  more  convenient  way  is 
to  have  the  index  in  a  small  book  for  the  purpose.  The  manner  in 
which  an  entry  is  copied  from  the  Journal,  or  posted,  commencing  w»th 
the  first  entry  in  the  Journal,  is  as  follows : 

Journal. — January  5,  1830. 

Sundries  Dr.  to  Sundries- 

3.  Cash, $38,000 

5.  Bills  Receivable, 4,670 

7.  Hardware, 3,125 

11.  Charles  Lawrence, 140 

$45,935 

1.  To  Thos.  Blanchard, 28,000 

1.    "    C.  C.  Marsh, 17,935 

45,935 

The  first  thing  exhibited  in  the  preceding  entry  is  Cash  38,000$ ; — 
Sundries  Dr.  to  Sundries  being  only  a  preface  to  what  follows ;  there- 
fore Cash  is  the  first  account  to  be  opened  in  the  Leger.  We  will  allot 
for  the  Cash  account  in  the  Leger  pages  3  and  4— commencing  on 
page  3,  we  write  the  word  "  Cash,"  and  the  abbreviations  "  Dr."  and 
"  Cr."  and  then  proceed  to  enter  the  amount  for  which  that  species  of 
property  is  debtor,  viz :  38,000$ ;  which  is  done  by  writing  in  the  first 
column*  the  yoar  and  month,  in  the  second  the  day,  in  the  third  the  pre- 
face to  the  other  part  of  the  Journal  entry  (To  Sundries,)  in  the  fourth 
the  page  of  the  Journal  that  the  entry  comes  from,  and  in  the  fifth  col- 
umn the  amount  for  which  Cash  is  debtor,  38,000$.  (See  the  Cash 
account  for  a  correspondence  with  this  explanation.)  When  this  is 
done,  we  place  the  page  of  the  Cash  account  in  the  Leger  against  the 
Cash  in  the  Journal ;  which  signifies  that  it  has  been  posted ;  and  then 
enter  the  Cash  account  in  the  index  of  the  Leger. 


28  POSTING. 

Thus  far  we  have  only  posted  the  first  debtor  in  the  Journal  entry  : 
the  other  three,  Bills  Receivable,  Hardware,  and  Charles  Lawrence, 
are  to  be  disposed  of  in  the  Leger  in  the  same  manner,  upon  other 
pages. 

Next  we  are  to  copy  the  creditors  of  the  same  journal  entry  into  the 
Leger ;  the  first  is  "  Thos.  Blanchard  28,000$ ;"  for  him  we  must  open 
an  account ;  a  small  portion  of  page  1  will,  we  suppose,  answer  for  him, 
by  writing  the  name  of  "  Thomas  Blanchard,"  and  the  terms  "  Dr."  and 
"  Cr."  at  the  top  of  page  1  :  and  as  he  is,  in  this  entry,  a  creditor  for 
28,000$,  we  must  place  that  sum  on  the  credit  side  of  his  account ; 
which  is  done  by  writing  in  the  first  column  the  year  and  month,  in  the 
second  the  day,  in  the  third  the  preface,  (By*  Sundries)  to  the  other  half 
of  the  Journal  entry,  in  the  fourth  the  page  of  the  journal  that  the  sum 
is  brought  from.  Then  place  against  the  name  of  Thomas  Blanchard 
in  the  Journal  the  page  of  his  account  in  the  Leger ;  which  is  signifi- 
cant of  its  being  posted.  All  accounts  opened  in  the  Leger  are  to  be 
noticed  in  its  index,  at  the  time  of  opening.  The  other  creditors  are 
posted  in  the  same  manner. 

As  the  Journal  presents  only  four  forms  or  kinds  of  entry,  there  is 
necessity  for  only  four  lucid  explanations,  in  order  to  teach  the  reader 
that  part  of  the  science  called  Posting  or  Legerising ;  and  having  ex- 
plained the  first  of  these  forms,  we  will  now  notice  the  next,  being  the 
second  entry  in  the  Journal,  dated  January  5th. 

Journal. — January  5. 
6.  Sundries  Dr.  to  Bills  Payable. 

1.  Thos.  Blanchard, 1,080 

1.  C.  C.  Marsh, 1,230 

$2,310 

Blanchard  &  Marsh  being  debtor  for  the  amounts  in  line  with  their 
names,  we  return  to  the  page  upon  which  their  accounts  were  opened 
(page  1)  and  write,  on  the  debtor  side,  in  the  first  two  columns  the  date ; 
in  the  third  the  opposite  part  of  this  entry  (To  Bills  Payable ;)  in  the 
fourth  column  the  page  of  the  Journal  from  which  the  amounts  are 
brought,  and  in  the  fifth  the  sums  for  which  they,  Blanchard  &  Marsh, 
are  debtor. 

This  done,  we  must  allot  a  portion  of  the  Leger,  page  6,  for  the  ac- 
count of  Bills  Payable,  which  being  creditor  in  the  above  entry  for 
2,310$,  requires  an  entry  of  that  sum  upon  the  creditor  side  of  the 
account :  thus,  in  the  two  first  columns  write  the  date ;  in  the  third  the 
other  part  of  the  Journal  entry,  viz.  "  By  Sundries ;"  in  the  fourth  the 

*  The  word  "  By"  is  not  found  in  the  Journal  entries,  because  the  debtors  are  always 
placed  before  the  creditors,— but  in  making  our  entry  on  the  creditor  side  of  an  account, 
we  commence  reading  with  the  creditor  account— thus  in  the  case  of  Thos.  Blanchard 
who  is  a  creditor  in  the  above  entry,  we  say— "  Thos.  Blanchard  Cr.  By  Sundries ;"  or 
should  we  read  with  the  debtor  first,  the  word  "  By"  would  not  be  used ;  thus,  "  Sundries 
Dr.  To  Thos.  Blanchard"— which  is  the  same  in  meaning. 

Did  custom  sanction  the  usage,  it  would  be  equally  correct  always  to  place  the  creditors 
before  the  debtors  in  the  journal  ^  we  should  not  then  see  the  words  "  To"  and  "  Dr."  in 
every  entry,  but  in  their  stead  the -words  "By"  and  "Cr." 


JOURNALISING.  29 

page  of  the  Journal  the  sum  comes  from ;  and  in  the  fifth  column  write  the 
amount  for  which  Bills  Payable  are  creditor. 

Journal. — January  7. 
1.  Store  Fixtures  Dr. 

3.  To  Cash, $300 

To  post  the  above  entry,  (varying  from  the  others,  having  but  one 
debtor  and  one  creditor,)  we  open  an  account  for  that  species,  of  prop- 
erty called  Store  Fixtures,  a  small  space  upon  page  1  will  probably 
do  for  it,  and  write  on  the  debtor  side  of  the  account,  because  the  prop- 
erty is  debtor,  the  date;  the  other  part  of  the  Journal  entry,  viz.  "  To 
Cash  ;"  the  page  of  the  Journal  that  the  entry  is  upon,  and  the  amount 
300$. 

Cash  in  the  above  entry  is  a  creditor,  therefore  write  upon  the  creditor 
side  of  the  cash  account,  the  date,  "  By  Store  Fixtures,"  the  page  of 
the  Journal,  and  the  amount  of  $300 ;  and  that  entry  is  then  posted. 

Another  and  the  last  Journal  entry,  of  the  posting  of  which  it  is 
necessary  to  give  an  explanation,  will  be  found  in  the  Journal,  dated 

Journal. — January  16. 
7.  Rice  Dr.  to  Sundries. 

3.  To  Cash, 2,000 

7.  "     Hardware, 1,200 

$3,200 

To  copy  the  above  into  the  Legcr,  we  open  an  account  for  "  Rice," 
upon  page  7,  and  write  on  the  debtor  side  of  that  account,  the  date,  the 
preface  of  the  other  part  of  the  Journal  entry,  "  To  Sundries  /"  and 
carry  out  the  whole  amount,  for  which  Rice  is  debtor,  3,200$. 

The  creditors  in  the  above  entry  are  Cash  and  Hardware  ;  they  are 
posted  by  writing  upon  the  credit  sides  of  their  accounts  in  the  Leger, 
the  date,  the  other  part  of  this  Journal  entry,  viz.  "  By  Rice,"  and  in 
the  columns  the  sums  for  which  each  is  creditor. 

In  opening  accounts  we  allow  a  reasonable  space  for  each,  accord- 
ing with  the  supposed  extent  of  business  that  may  be  performed  with 
the  person  or  property ;  and  we  use  what  endeavors  we  can  to  keep 
those  of  a  similiar  kind  in  the  same  part  of  the  Leger. 


JOURNALISING. 

THE  RULE, 

WHOEVER  or  whatever  owes  us  is  Debtor — 
Whoever  or  whatever  we  owe  is  Creditor. 

Day-Book. — February  2,  1829. 

Paid  Henry  Austin  for  our  Note,  being  Thos.  Blanchard's  accept- 
ance, drawn  by  Joseph  Eaton  &  Co.,  Boston,  at   60  days  sight,  for 
$1,080  ;  in  Hardware  for  $550,  in  Cash  $525  32,  and  iri  Interest,  the 
Note  having  26  days  to  run,  $4  68. 
C2 


30  JOURNALISING. 

Journal. — Bills  Payable  Dr.  to  Sundries. 

To  Hardware, 550  00 

"     Cash, 525  32 

"    Interest, 4  68 

$1,080 

Elucidation. — The  Note  now  paid  or  taken  up,  was  issued  by  Blan- 
chard  before  this  partnership  commenced,  therefore  it  was  drawn  on 
him  alone ;  but  as  he  advanced  a  description  of  it  at  the  commencing 
of  these  books,  the  firm  assumed  the  debt,  and  consequently  the  note 
became  a  creditor.  This  Note  now  is  debtor,  because  we  have  paid 
the  amount  we  owed  it,  therefore  it  owes  us,  which  makes  the  account 
between  us  and  the  Bills  payable  balance  so  far,  as  that  Note  is  con- 
cerned. 

Hardware  and  Cash  are  creditors,  because  we  owe  them  for  paying 
for  the  Note  for  us. 

Interest — we  open  an  account  for  Interest  because  we  consider  it  a 
branch  of  our  business,  and  intend  to  treat  it  as  we  do  a  person,  rsaking 
it  debtor  whenever  it  owes  us,  and  creditor  whenever  we  owe  it :  in  the 
preceding  transaction,  the  branch  of  business  called  Interest  has  paid 
for  us,  towards  the  payment  of  the  Note,  the  sum  of  $4  68 ;  therefore 
we  owe  it- 

Day-Book. — February  2,  (second  of  this  date.) 

Paid  Cash  to  sundry  persons  for  expenses  incurred  last  month,  as  per 
Cash  Book,  65$. 

Journal. — Store  Expenses  Dr. 

To  Cash, $65 

Elucidation. — The  title  of  Store  Expenses  is  given  to  a  variety  of 
incidental  expenses  connected  with  our  business,  and  forms  a  branch 
of  our  business,  which  we  make  debtor  and  creditor  according  to  the 
rule. 

Day-Book. — February  4. 

Shipped  per  brig  Franklin,  Kay,  and  consigned  to  Lockhart  &  Arrott, 
New-Orleans,  to  be  sold  for  our  account,  sundry  articles  of  Hardware, 
as  per  Sales  Book,  amounting  to  $1,722  22,  and  paid  Cash  for  shipping, 
&c.  $100. 

Journal. — Shipment  to  New-Orleans  Dr.  to  Sundries. 

To  Hardware, 1,722  22 

«   Cash, 10000 

$1,82222 

Elucidation. — The  property  shipped  in  the  above  transaction,  owes 
us  for  its  whole  amount  $1,822  22,  therefore  it  is  debtor.  The  articles 
of  Hardware  and  Cash  having  changed  their  situation,  require  new  titles, 
therefore  we  give  them  a  name  significant  of  their  situations. 

Hardware  and  Cash  are  creditors,  because  we  owe  them  for  advanc- 
ing the  shipment  for  us. 


JOURNALISING.  31 

Day-Book. — February  6. 

Oar  intention  being  to  discontinue  the  Hardware  business,  a  closing 
of  the  account  would  be  proper,  &c.;  the  gain  is  $277  22. 
Journal. — Hardware  Dr. 

To  Profit  and  Loss, $277  22 

Elucidation. — Before  the  preceding  Day-Book  entry  was  made,  all 
concerning  the  Hardware  was  posted  to  that  account ;  which  then  ex- 
hibited all  that  property  owed  us,  and  all  we  owed  it :  the  difference  or 
balance  between  the  two  sides  of  the  account  would  then  be  either 
profit  or  loss — if  the  creditor  amount  be  the  greater,  then  the  balance 
is  profit ;  if  the  debtor  amount  be  greater,  then  the  balance  is  loss ; 
for  the  property  being  all  sold,  and  at  the  same  time  owing  us, 
could  pay  or  produce  us  nothing.  But  in  this  instance  there  has  been 
a  profit,  for  the  credit  side  of  the  account  is  the  greater : — this  profit 
was  caused  by  the  purchase  or  sale  of  the  Hardware,  therefore  the 
profit  was  caused  by  the  business,  which  is  called  Profit  and  Loss,  to 
which  account  the  gain  $277  22  must  be  transferred,  in  order  to  close 
the  Hardware  account. 

Hardware  is  debtor,  because  the  sum  which  we  owed  it  must  be  owed 
to  Profit  and  Loss,  and  as  we  cannot  owe  two  accounts  one  and  the 
same  sum,  Hardware  owes  us  for  the  amount  to  be  transferred  to  Profit 
and  Loss  account. 

Profit  and  Loss  is  creditor,  because  we  have  discovered  by  adding 
and  subtracting  the  Hardware  account,  that  we  owe  our  business  for 
producing  us  profit  amounting  to  $277  22. 

In  posting  a  closing  entry,  we  use  red  ink,  which  is  significant  at 
first  sight  of  the  entry's  being  only  a  transfer.  The  red  ink  in  the 
above  entry  would  be  used  only  at  Hardware  account. 

Day-Book. — February  9. 

Wm.  Blakely  has  failed. — The  balance  of  his  account  in  our  favor 
is  $200,  for  which  he  has  paid  Cash  $100,  the  balance  is  lost,  $100. 
Journal. — Sundries  Dr.  To  Wm.  Blakely. 

Cash, 100 

Profit  and  Loss, 100 

$200 

Elucidation. — Profit  and  Loss  are  debtor,  because  our  business  owes 
vs  for  the  amount  lost  by  Blakely's  failure. 

Wm.  Blakely  is  creditor,  because  we  owe  him  for  paying  us  what  he 
owed  us ;  he  has  paid  us  all  he  owed,  for  we  have  taken  half  for  the 
whole. 

Day-Boole. — February  11. 

Bought  Dry-Goods  of  Haven  &  Smith,  for  which  delivered  to  them 
in  payment,  our  Order  at  sight  on  Chas.  Lawrence,  for  $140,  Oliver 
Otis's  Note,  due  22d  instant  for  $1000,  and  Cash  for  $100. 
Journal. — Merchandise  Dr.  to  Sundries. 

To  Chas.  Lawrence, 140 

"    Bills  Receivable, 1,000 

"    Cash, 100 

$1,241) 


32  JOURNALISING. 

Elucidation. — Dry- Goods  are  debtor,  because  they  owe  us  for  the 
amount  of  their  cost.  We  give  the  title  of  merchandise  to  the  Dry-Goods, 
for  we  now  intend  to  have  a  general  account,  to  which  we  may  place 
any  article  we  choose. 

Chas.  Lawrence  is  creditor,  because  we  owe  him  for  the  amount  of 
the  Order  we  have  issued  against  him — he  will  pay  that  sum  for  us ;  if 
not,  then  the  Order  will  be  returned  to  us,  and  another  entry  will  be 
made.  The  Order  is  not  creditor,  because  we  do  not  owe  it — it 
does  not  hold  us  responsible,  and  will  not  until  Lawrence  refuses  to 
pay  it. 

The  Note  which  we  hold  against  Otis  &  Co.  is  creditor,  because  we 
owe  it  for  paying  us  the  amount  it  owed.  The  Note  paid  us  that  sum, 
because  it  produced  us  the  goods. 

Day-Boole. — February  13. 

Received  per  ship  Delaware,  Hamilton,  consigned  to  us  by  Walter 
Howard,  London,  pursuant  to  an  order,  and  for  our  account,  an  invoice 
of  Dry-Goods,  amounting  to  $4,888  89  ;  signed  three  bonds  to  the  Cus- 
tom House  for  duties,  81,222  22,  and  paid  Cash  for  freight,  &c.  422$. 

Journal. — Merchandise  Dr.  to  Sundries. 

To  Walter  Howard, 4,888  89 

"    Bills  Payable, 1,22222 

"    Cash,   422  00 

$6,53311 

Elucidation. — The  Dry-Goods  are  debtor,  because  they  owe  us  for 
the  amount  of  cost.  Walter  Howard  is  creditor,  because  we  owe  him 
for  the  amount  of  the  invoice,  having  ordered  the  goods  of  him.  The 
Bonds,  to  which  the  title  of  Bills  Payable  is  given,  are  creditor  because 
we  owe  them  for  paying  for  the  duties  for  us. 

Day-Book. — February  13,  (second  of  this  date.) 
Received  of  Wm.  Blakely,  in  payment  of  his  Note  for  $500  now 
due,  his  Order  on  S.  H.  Lovell,  which  is  accepted  at  thirty  days  sight, 
with  interest  added ;  face  of  the  acceptance  $251  37.     The  balance  is 
lost  by  Blakely's  failure,  $250. 

Journal. — Sundries  Dr.  to  Sundries. 

BiUs  Receivable, 251  37 

Profit  and  Loss, 250  00 

$501  37 

To  Bills  Receivable, 500  00 

"    Interest, 1  37 

$501  37 

Elucidation. — The  order  accepted  at  thirty  days  sight  by  Lovell  is 
debtor,  because  it  owes  us  for  the  amount  for  which  it  is  drawn — it  owes 
us  for  both  the  principal  and  interest ;  for  if  it  will  not  produce  one,  it 
will  not  the  other.  Profit  and  Loss  is  debtor,  because  our  business, 
receiving  that  title,  owes  us  for  the  loss  it  has  caused.  Bills  Receivable 
are  creditor,  because  we  owe  the  old  Note,  for  paying  us  the  amount 
for  which  we  held  it  responsible.  There  are  two  notes  in  this  transac- 


JOURNALISING.  33 

tion  the  order  becomes  Bills  Receivable,  because  it  is  in  our  favor ;  and 
the  old  note  was  Bills  Receivable  for  the  same  cause. 

Interest  is  creditor,  because  we  owe  that  branch  of  business  for  the 
production  of  $1  37,  which  is  in  the  order  on  Lovell. 

Day-Book. — February  16. 

Accepted  Walter  Howard's  Draft  on  us  at  twenty  days  sight  in  favor 
of  Lewis  Clapier,  for  $4,444  44. 

Journal. — Walter  Howard  Dr. 

To  Bills  Payable, 84,444  44 

Elucidation. — By  accepting  this  Draft  we  become  responsible  for  its 
amount,  therefore  Howard  owes  us  for  agreeing  to  pay  that  sum  accord- 
ing to  his  order.  Bills  Payable  is  the  name  given  to  the  Draft  which 
we  have  endorsed,  and  which  is  creditor  because  we  owe  it — it  holds  us 
responsible  in  the  possession  of  Clapier. 

Day-Book. — February  17. 

Delivered  Dry-Goods  to  Henry  Austin  in  payment  of  our  Note  now 
due,  for  1,500$. 

Journal. — Bills  Payable  Dr. 

To  Merchandise, $1,500 

Elucidation. — The  Note  held  us  responsible  heretofore;  now  we 
have  paid  it,  it  owes  us  ;  therefore  it  is  debtor.  Merchandise  is  credit- 
or, because  that  species  of  property  paid  the  Note  for  us ;  therefore  we 
owe  it. 

Day-Book. — February  20. 

Shipped  per  ship  Thames,  Robinson,  and  consigned  to  Walter 
Howard,  London,  pursuant  to  his  order,  &c. 

Journal. — Walter  Howard  Dr.  to  Sundries. 

To  Rice, 1,470  00 

"    Wm.  Evans, 1,26000 

"    Cash, 16015 

"    Commission, 84  14 

$2,974  29 

Elucidation. — Howard  is  debtor,  because  he  owes  us  ;  we  having 
shipped  merchandise  to  him  as  he  directed. 

Rice  is  creditor,  because  we  owe  it  for  advancing  towards  the  ship- 
ment the  amount  of  1,470$ — we  do  not  credit  the  account  of  merchan- 
dise for  that  sum,  because  we  have  an  account  for  the  species  of  prop- 
erty called  Rice.  Evans  is  creditor,  because  we  oice  him  for  the  Ashes 
now  bought  and  shipped.  Cash  is  creditor,  because  we  owe  it  for  pay- 
ing sundry  expenses  for  us  towards  the  shipment. 

Commission  is  creditor,  because  that  branch  of  our  business  has  pro- 
duced us  the  amount  of  $84  14,  therefore  we  owe  it — the  amount  it  did 
produce,  because  Howard  is  responsible  for  it. 

Day-BooJc. — February  21. 

Bartered  with  C.  Barnard,  a  quantity  of  Dry-Goods  for  the  same 
amount  in  Rice,  1 ,530$ — and  exchanged  Notes,  each  for  800$. 

5 


34  JOURNALISING. 

Journal. — Sundries  Dr.  to  Sundries. 

Rice, 1,530 

Bills  Receivable, 800 

$2,330 

To  Merchandise, 1,530 

"    Bills  Payable, 800 

2,330 

Elucidation. — "  Sundries  Dr."  and  "  to  Sundries,"  are  two  prefaces ; 

the  first  to  the  debtors  and  the  second  to  the  creditors — signifying  that 
the  entry  contains  more  than  one  of  each  kind. 

Rice  is  debtor,  because  that  species  of  property  owes  us  the  amount 
it  has  cost. — The  Note  we  received  of  Barnard  is  called  Bills  Receiva- 
ble, because  it  is  a  Note  in  our  favor,  and  it  owes  us  the  sum  of  800$, 
therefore  it  is  debtor. 

Merchandise  is  creditor,  because  we  owe  it  for  producing  1,530$. 
Bills  Payable,  the  title  given  to  the  Note  in  the  possession  of  Barnard, 
is  creditor  because  we  owe  it — it  holds  us  responsible  for  800$. 

There  may  be  various  objects  for  exchanging  Notes  :  one,  however, 
is  to  obtain  money  by  having  them  discounted. 

Day-Boole. — February  23. 

In  the  transaction  of  this  date,  James  Truman  is  debtor  for  1,000$, 
because  he  owes  us  until  he  fulfils  his  promise  by  giving  us  the  accept- 
ance. Truman  does  not  become  debtor  for  the  whole  purchase,  because 
he  paid  for  part ;  for  that  which  he  paid,  Bills  Receivable  and  Cash  owe, 
because  the  payment  is  in  them.  Merchandise  is  creditor  for  all  it 
produces. 

Day -Book. — February  23,  (second  of  this  date.) 
Sold  Dry-Goods  to  T.  &  A.  Vinton  on  their  Note  at  ninety  days ; 
which  the  Commercial  Bank  has  discounted,  at  six  per  cent.     Amount 
of  Cash  received,  1,969$,  discount  allowed  31$. 
Journal. — Sundries  Dr.  to  Merchandise. 

Cash, 1,969 

Discount, 31 

$2,OOC 

Elucidation — In  the  Journal  entry  of  this  transaction,  nothing  is 
said  of  the  Note  which  was  received  of  T.  &  A.  Vinton,  because  that 
Note  does  not  at  this  time  owe  us,  nor  do  we  owe  it — it  is  not  in  our 
favor  or  against  us. 

Cash  and  Discount  owe  us  for  the  amount  that  the  merchandise  pro- 
duced— Discount  as  a  branch  of  our  business,  and  Cash  as  a  species 
of  property.  Merchandise  is  creditor,  because  we  owe  it  for  the  pro- 
duction it  has  caused,  2,000$. 

Day-Book. — February  25. 

Bought  the  schooner  Josephine,  of  Capt.  Caleb  Davis ;  delivered  to 
him  in  payment,  at  8  per  cent,  advance,  our  Bill  of  Exchange  at  sixty 
days  sight,  on  Walter  Howard,  London,  for  $2,222  22.  Advance 
$177  78,  and  Cash  for  the  balance,  $2,600. 


JOURNALISING.  35 

Journal. — Schooner  Josephine  Dr.  to  Sundries. 

To  Walter  Howard, 2,222  22 

"   Profit  and  Loss, 177  78 

"  Cash, 2,600  00 

$5,000  00 

Elucidation. — The  Schooner  is  debtor,  because  she  owes  us  the 
amount  of  her  cost,  5,000$. 

W.  Howard  is  creditor,  because  we  owe  him  for  the  amount  of  the 
Draft  which  we  have  issued  against  him :  we  do  not  owe  the  Draft  or 
Bill  of  Exchange,  for  it  is  not  drawn  on  »r  against  us,  it  docs  not  hold 
us  responsible.  Should  Howard  refuse  to  pay  the  Draft,  he  will  of 
course  become  debtor  for  the  same  when  it  is  returned ;  but  until  he 
refuses,  we  owe  him  as  though  he  had  paid. 

Profit  and  Loss,  which  is  a  name  given  to  our  business,  is  creditor, 
because  we  owe  our  business  for  producing  the  amount  of  profit  of 
$177  78;  for  it  was  by  an  advantageous  sale  of  the  Draft  that  the 
premium  or  advance  .was  obtained. 

Day-Book. — February  26. 

Received  of  James  Truman   his  Order  at  sight  on  Wm.  Evans, 
which  is  accepted,  and  considered  in  account  for  i  ,000$. 
Journal. — William  Evans  Dr. 

To  James  Truman, $1,000 

Elucidation. — Evans  is  debtor,  because  he  owes  us  for  the  amount 
of  the  Order  for  which  he,  by  accepting,  makes  himself  responsible. 
Evans  tells  us  to  consider  the  Order  in"  account,  because  there  is  no 
necessity  for  him  to  pay  the  amount  to  us,  for  we  owe  him  by  business 
of  former  date.  James  Truman  is  creditor,  because  we  owe  him  for 
paying  us  the  amount  which  he  owed ;  which  he  does  by  giving  us  the 
Order. 

Day '-Boole. -.^February  27. 

Shipped  per  Schooner  Josephine,  Whipple,  and  consigned  to  H.  B. 
Walker,  Port-au-Prince,  to  be  sold  for  our  account,  &c. 

Journal. — Shipment  to  Port-au-Prince  Dr.  to  Sundries. 

To  Merchandise, 1,200 

"  Bills  Payable,   2,190 

"  Chas.  Lawrence, 288 

"  Schooner  Josephine, 230 

$3,908 

Elucidation. — It  becomes  proper  in  this  transaction  to  give  to  the 
property  shipped  the  title  of  Shipment  to  Port-au-Prince  ;  for  in  speak- 
ing of  things,  we  should  call  them  as  nearly  as  possible  what  they  are. 
This  property  owes  us  the  amount  of  its  cost  in  its  present  situation, 
therefore  it  is  debtor.  The  four  creditors  are  creditor,  because  we  owe 
them  individually  for  the  amount  that  each  advances  in  making  up  the 
shipment.  Our  imported  goods  pay  for  the  domestic  goods  that  were 
shipped — our  Note  pays  for  the  Candles  and  Soap,  &c. — We  owe 
Lawrence  for  the  Cheese,  and  the  Schooner  for  the  freight. 


36  JOURNALISING. 

Day-Book. — February  28. 

Insured  at  the  Phoenix  Insurance  Office,  our  Shipment  to  Port-au 
Prince,  of  27th  inst. :  passed  our  Note  to  the  said  Company,  at  ninety 
days  for  2  per  cent,  premium  on  3,908$  and  120$,  making  4,028$, 
the  amount  of  said  shipment,  policy  1$;  face  of  the  Note  $81  56. 
Cash  paid  shipping  expenses  incurred  on  yesterday,  120$. — Also, 
insured  at  the  Atlantic  Insurance  Office,  our  Schooner  Josephine  to  the 
amount  of  5,000$,  at  %  per  cent. — policy  1$,  for  which  paid  Cash  26$. 
Journal. — Sundries  Dr.  to  Sundries. 

Shipment  Jo  Port-au-Prince, 201  56 

Schooner  Josephine, 26  00 

$227  56 

To  Bills  Payable, 81  56 

"  Cash, 146  00 

$227  56 

Elucidation. — The  Shipment  to  Port-au-Prince  is  debtor,  because  it 
owes  us  for  the  additional  charges  of  insurance  and  shipping  expenses. 
Our  Schooner  is  debtor,  because  she  owes  us  for  the  expense  of  insuring 
her.  Bills  payable  are  creditor,  because  we  owe  the  Note  which  we 
gave  to  the  Insurance  Company,  for  paying  the  insurance  ;  and  Cash  is 
creditor,  for  paying  the  Expenses,  and  for  insuring  the  Schooner. 

Day -Boole. — March  2. 

Sold  Dry-Goods  to  Wm.  Blakely ;  received  of  him  in  payment, 
Chas.  Lawrence's  Order  on  us  at  sight,  for  288$.  Also,  sold  to  0. 
Otis  &  Co.  on  account,  500$. 

Journal. — Sundries  Dr.  to  Merchandise. 

Charles  Lawrence, 288 

Oliver  Otis  &Co....  .  500 


Elucidation. — The  great  thing  is  always  to  find,  according  to  the 
rule,  what  owes  us  and  what  we  owe,  Lawrence  draws  an  Order  on 
us,  requesting  us  to  deliver  Goods  to  Blakely :  Lawrence  then  wees  us 
for  the  Goods ;  therefore  he  is  debtor.  The  Order  has  no  quality  to 
make  it  Bills  Receivable,  or  Payable ;  or  if  it  had,  it  could  not  be  debtor 
unless  it  owed  us,  or  creditor  unless  we  owed  it. 

Otis  &  Co.  owe  us  for  their  purchase — we  owe  Merchandise  for  what 
it  sells  for. 

Day-Book.— March  3. 

Received  per  Brig  Clio,  Kirk,  consigned  to  us  by  Joseph  De  Nones, 
Cadiz,  to  be  sold  for  his  account,  an  invoice  of  Olives,  Oranges  and 
Lemons,  2,700$.     Paid  Cash  for  freight  and  duties,  460$. 
Journal. — De  Nones'  Consignment  Dr. 

To  Cash, $460 

Elucidation. — To  the  above  Merchandise  we  give  the  name  of  De 
Nones'  Consignment,  because  they  are  his  goods  consigned  to  us ;  and 
we  make  them  debtor,  because  they  owe  us  only  for  the  amount  of 
expenses  incurred  since  in  our  care.  Cash  is  creditor,  because  it  pays 
those  expenses  for  us. 


JOURNALISING.  37 

We  cannot  credit  De  Nones  for  the  goods  received  of  him,  because 
we  do  not  owe  him — the  goods  are  still  his ;  we  cannot  owe  a  person 
for  what  belongs  to  that  person. 

Day-Book. — March  3,  (second  of  this  date.) 
Sold  for  Cash  152  boxes  of  De  Nones'  Lemons  and  Oranges,  &c. 
456$. 

Journal. — Cash      Dr. 

To  De  Nones'  Consignment, $456 

Elucidation. — Cash  is  debtor,  because  it  owes  us  for  the  amount  that 
the  Lemons  and  Oranges  have  produced. 

De  Nones'  Consignment  is  creditor,  because  we  owe  it  for  the  pro- 
duction it  has  caused. 

Day-Book. — March  4. 

Those  entries  which  are  not  explained,  will  require  no  explanation  to 
the  student  who  has  been  attentive  to  all  that  precedes  them.  They 
are,  however,  under  their  proper  dates  in  the  Journal. 

Day-Book. — March  5. 

Received  Cash  of  Oliver  Otis  &  Co.  for  their  acceptance,  being  T. 
Perkins  &  Go's.  Draft,  in  favor  of  C.  C.  Marsh,  and  advanced  by 
him  at  the  commencement  of  this  partnership,  now  due,  for  2,670$. 
And  also,  received  of  Otis  &  Co.  their  Note  at  sixty  days  for  balance 
of  account  700$,  with  interest  added  $7  35 ;  face  of  the  Note,  $707  35. 
Journal. — Sundries  Dr.  to  Sundries. 

Cash, 2,670  00 

Bills  Receivable, 707  35 

$3,377  35 

To  Bills  Receivable, 2,670  00 

"  Oliver  Otis  &  Co 700  00 

"  Interest, 7  35 

$3,377  35 

Elucidation. — The  Note  or  Draft  owed  us  heretofore ;  it  has  no\v 
paid  us,  which  payment  consists  in  Cash,  therefore  Cash  owes  us  for 
the  same  sum ;  and  we  owe  the  Note  for  producing  it,  which  makes  it 
a  creditor  for  the  sum. 

Besides  the  acceptance  for  which  we  received  payment,  Otis  &  Co. 
owed  on  account  700$ ;  and  in  paying  for  that,  they  give  us  their  Note. 
The  payment  being  in  the  Note,  it  owes  us  for  its  principal  and  interest. 
O.  Otis  &  Co.  are  creditor,  because  we  owe  them  for  paying  us  the 
amount  which  they  owed.  Interest,  as  a  branch  of  our  business,  is 
creditor  for  producing  us  the  value  of  $7  35,  which  is  in  the  Note. 

Day-Book. — March  9,  (second  entry  of  this  date.) 
Delivered  to  Lewis  Clapier,  in  payment  of  our  acceptance,  being 
Walter  Howard's  Draft ;  now  due  for  $4,444  44,  &c. 
Journal. — Bills  Payable  Dr. 

To  Cash, $4,444  44 

Elucidation. — This  Draft  became  a  Note  against  us  when  we  ac 
D 


38  JOURNALISING. 

cepted  it,  at  which  time  it  received  the  name  of  Bills  Payable.  It  is 
now  debtor,  because  it  owes  us  for  the  amount  for  which  it  held  us 
responsible.  Cash  is  creditor,  because  that  species  of  property  pays 
the  Draft  for  us. — Our  Bank  pass-book  is  an  account  between  us  and 
the  Bank ;  so  that  we  have  no  occasion  for  showing  an  account  with 
the  Bank  in  the  Leger ;  therefore  a  check  at  sight  or  on  demand  is  Cash. 

Day-Book. — March  10. 

Sold  at  auction  for  Cash  of  De  Nones'  Consignment,  &c.  $1,233  27  ; 
and  received  to  our  account  4,000  jars  Olives,  at  50  cts.  2,000$. 
Journal. — Sundries  Dr.  to  De  Nones5  Consignment. 

Cash, 1,233  27 

Merchandise, 2,000  00 

$3,233  27 

Elucidation. — The  Consignment  is  creditor,  because  we  owe  it  for 
producing  $ 3,233  27 ;  that  production  consists  in  Cash  and  Merchan- 
dise ;  therefore  they  owe  us.  The  Olives,  since  they  have  become  ours, 
receive  the  title  of  Merchandise  in  common  with  our  Dry-Goods,  &c. 
We  say  nothing  of  commission,  because  it  neither  costs  nor  produces  us 
anything. 

Day -Book. — March  14. 

De  Nones'  Consignment  is  chargeable  for  5  per  cent.  Commission 
on  $4,314  27  the  amount  of  total  sales,  $215  71,  and  for  Storage  and 
Advertising,  $52  24. 

Journal. — De  Nones'  Consignment  Dr.  to  Sundries. 

To  Commission, 215  71 

"  Store  Expenses, 52  24 

$267  95 

Elucidation. — Every  amount  in  the  Journal  concerning  De  Nones' 
Consignment  must  be  posted  to  the.  account  in  the  Leger.  The  goods 
consigned  to  us  by  De  Nones  having  been  sold,  we  proceed  to  close  or 
settle  the  account  that  was  opened  for  them.  The  first  object  is  to 
obtain  the  gross  amount  of  sales ;  these  are  exhibited  on  the  creditor 
side  of  the  account ;  for  the  goods  become  creditor  when  we  sell  them, 
because  they  then  produce  value.  Each  sum  upon  the  creditor  side  of 
the  account  should  be  examined  in  the  Day -Book,  in  order  to  know 
with  certainty  whether  all  are  sales  of  the  goods,  for  it  is  possible  that 
other  sums  may  come  upon  that  side  of  the  account,  errors  or  transfers, 
upon  which  it  would  be  wrong  to  calculate  Commission.  Having  the 
amount  of  total  sales,  we  ascertain  the  Commission  to  be  $215  71,  and, 
as  we  have  neither  stored  nor  advertised  the  goods,  we  make  a  suppo- 
sition of  those  charges,  and  rate  them  at  $52  24. 

De  Nones'  Consignment  is  debtor,  because  it  owes  us  for  the  amount 
of  our  Commission,  Storage,  and  Advertising,  $267  95. 

Commission  is  creditor,  because  we  owe  that  branch  of  our  business 
for  producing  us  the  amount  of  $215  71. 

Store  Expenses  is  creditor,  because  we  owe  it  for  the  production  of 
$52  21.  The  account  of  Store  Expenses  is  opened  to  represent  a 


JOURNALISING.  39 

branch  of  our  business  which  regards  incidental  expenses  connected 
with  the  business ;  this  account  will  of  course  be  debtor  and  creditor 
for  the  same  cause  that  any  other  account  would  be. 

An  account  sales  obtained  from  the  Commission-Sales-Book  should 
be  forwarded  to  Joseph  De  Nones. 

Day -Book. — March  14,  (second  entry  of  this  date.) 

De  Nones'  Consignment  exhibits  an  amount  of  net  proceeds  of 
$3,531  32. 

Journal. — De  Nones'  Consignment  Dr. 

To  Joseph  De  Nones, $3,531  32 

Elucidation. — Having  conveyed  all  the  charges  to  the  debtor  side  of 
the  account  of  the  consignment,  (having  posted  the  previous  entries,) 
we  have  only  to  subtract  one  side  of  the  account  from  the  other,  in 
order  to  know  the  amount  of  net  proceeds  due  to  the  owner  of  the 
merchandise.  The  balance  of  the  account  is  $3,531  32. 

De  Nones'  Consignment  is  debtor,  because  it  owes  us  for  the  amount 
which  we  transfer  from  it  to  an  account  for  De  Nones.  Since  we 
know  that  the  balance  on  the  creditor  side  of  the  consignment  account 
belongs  to  another  place,  we  no  longer  owe  that  account,  to  show  which 
it  becomes  debtor — and  Joseph  De  Nones  is  creditor,  because  we  owe 
him  for  the  amount  of  the  net  proceeds  of  the  goods. 

Day -Book. — March  16. 

Received  of  Lockhart  &  Arrott,  New-Orleans,  an  account-sales  of 
our  Shipment  to  them  per  Brig  Franklin,  February  4 ;  net  proceeds 
2,020$. 

Journal. — Lockhart  &  Arrott  Dr. 

To  Shipment  to  New-Orleans, $2,020 

Elucidation. — Lockhart  &  Arrott  are  debtor  because  they  owe  us 
for  the  amount  of  net  proceeds,  having  sold  the  goods  and  not  sent  us 
returns.  Shipment  to  New-Orleans  was  the  title  given  to  the  goods  when 
they  were  shipped,  and  now  in  speaking  of  the  same  property  we  must 
use  the  same  name.  The  Shipment  is  creditor,  because  we  owe  it  for 
producing  2,020$,  for  which  Lockhart  &  Arrott  are  responsible. 

Day -Book. — March  18. 

Paul  Harris  has  advanced,  to  be  expended  as  his  half  in  the  concern 
now  existing  between  him  and  ourselves,  &c.  Cash  2,000$. 
Journal. — Cash  Dr. 

To  Paul  Harris, $2,000 

Elucidation. — Cash  is  debtor  because  it  owes  us  for  the  amount  of 
value  advanced  by  Harris.  Harris  is  creditor,  because  we  owe  him  for 
the  Cash  he  has  advanced.  We  owe  Harris  for  the  Cash  until  we  have 
used  it  for  the  purpose  for  which  it  was  given  to  us. 

Day-Book. — March  20. 

Bought  for  Cash  of  Bunker  &  Starr,  on  account  of  the  concern  of 
Company  1,  800  bbls.  of  Flour,  at  5$  per  bbl.  4," 


40  JOURNALISING. 

Journal. — Sundries  Dr.  to  Cash. 

Company  1  Mdse 2,000 

Paul  Harris, 2,000 

$4,000 

Elucidation. — The  property  purchased  receives  the  title  of  Company 
1  Merchandise,  because  it  belongs  to  Harris  and  ourselves,  being  the 
first  Company  we  have  entered  into.  This  Merchandise  is  debtor, 
because  it  owes  us  for  the  amount  of  our  half,  2,000$  ;  the  property 
does  not  owe  us  for  any  more  than  half,  because  it  owes  Paul  Harris 
for  one-half — it  costs  us  only  half. 

Harris  is  debtor,  because  he  owes  us  for  paying  for  or  advancing  his 
half  for  him. 

Day -Book. — March  21. 

Received  of  Paul  Harris  to  be  sold  for  the  concern  of  Company 
1,  &c. 

Journal. — Company  1  Mdse.  Dr. 

To  Paul  Harris, $1,187  50 

Elucidation. — The  Flour  has  cost  us  only  half  of  its  whole  cost, 
and  it  owes  us  no  more  than  it  cost  us,  viz.  $1,187  50,  and  therefore 
can  be  debtor  for  no  more.  Harris  is  creditor,  because  we  owe  him  for 
the  half  that  he  advances  for  us. 

Day-Boole. — March  23. 

Elucidation. — In  the  transaction  of  this  date,  the  Note  which  was 
given  to  Rogers  &  Brothers,  and  which  we  pay  before  it  is  due,  be- 
comes debtor  for  the  amount  we  owed  it,  2,100$,  because  we  have,  by 
paying  $2,090  90  before  the  Note  is  due,  brought  it  responsible  to  us 
for  2,100$.  If  the  Note  does  not  owe  us  2,100$,  or  if  it  is  debtor  for 
only  $2,090  90,  then  we  shall  still  owe  the  Note  $9  10,  which  we  know 
is  not  the  case. 

Company  1  Mdse.  is  creditor,  because  we  owe  it  for  producing 
3,000$. 

Observe — the  account  of  Company  1  Mdse.  generally  exhibits  on 
the  debtor  side  half  the  cost  of  the  property,  and  on  the  creditor  side 
the  sales  of  the  whole  of  it ;  the  cause  is,  that  the  property  can  ou-e  us 
only  for  what  it  cost  us,  and  it  cannot  cost  us  for  its  whole  amount,  for 
one-half  is  Harris's.  But  when  we  sell  this  property,  it  produces  us  the 
whole  amount  for  which  it  sold ;  we  therefore  have  authority  to  give  it 
credit  for  that  whole. 

Day-BooJc. — March  26. 

Bought  of  Thos.  P.  Cope  &  Sons,  their  Set  of  Exchange  on  William 
&  James  Brown,  Liverpool,  at  20  days  sight,  &c.  for  $4,444  44 ; 
premium  or  advance  at  8  per  cent.  $355  56. — Delivered,  &c. 

Elucidation. — In  the  Journal  entry  of  the  transaction  of  this  date, 
the  Bill  of  Exchange  is  debtor,  because  it  owes  us  for  the  amount  of 
value  it  has  cost  us  ;  for  which  it  is  responsible.  Observe,  the  Bill  is 
not  responsible  for  the  premium,  because  that  is  not  included  in  its  face. 

Profit  and  Loss  is  the  title  given  to  our  business,  which  owes  us, 


JOURNALISING.  41 

because  oui  business  ha:r,  in  this  transaction,  cost  us  the  sum  of 
$355  56  ;  for,  if  is  for  the  benefit  of  our  business  that  we  purchase  the 
Bill  of  Exchange,  and  pay  such  an  amount  above  its  par  value. 

Day-Book. — March  30. 

In  closing  the  account  of  Company  1  Mdse.  the  following  is  the  re- 
sult, &c. 

AH  the  entries  relative  to  this  should  be  posted .;  after  which  each  of 
the  amounts  upon  the  creditor  side  of  the  account  of  Company  1  Mdse. 
should  be  examined  in  the  Day -Book,  in  order  to  know  if  each  is  brought 
there  by  a  sale  of  the  property;  if  they  are  all  sales,  then  the  amount 
of  the  creditor  side  is  the  amount  of  total  sales, $7,850  00 

[Jpon  which  we  have  2£  per  cent,  commission,  ...   196  25 
And  Storage  at  3  cents  per  bbl.;   also  other 

charges  if  we  have  any,  . 39  00 

Total  charges  amount  to 235  25 

$7,614  75 

Which  when  subtracted  from  the  total  sales,  give  the  net  pro- 
ceeds, half  of  which  belong  to  Paul  Harris, 3,807  37 

And  half  to  us, $3,807  38 

From  which  we  subtract  the  first  cost  of  our  one- 
half, 3,187  50 

ascertained  by  reference  to  the  debtor  side  of  Com- 
pany 1  Mdse.  account;  and  we  have  the 
amount  of  our  gain, $619  88 

From  the  preceding  we  make  these  deductions,  viz. — 

We  owe  commission  for  producing  us $196  25 

We  owe  the  branch  of  our  business  called  Store  Expenses,  for      39  00 
We  owe  Paul  Harris  for  the  amount  of  his  half  of  net  pro- 
ceeds,  3,807  37 

We  owe  our  business  entitled  Profit  and  Loss,  for  the  amount 
of  our  gain, 619  88 

We  owe  then  in  total, $4,662  50 

Now  obtain  the  balance  of  the  Company  1  Mdse.  account  as  it  stands, 
and  it  will  correspond  with  the  above  total  that  we  owe,  $4,662  50.  A 
little  reflection  will  enable  the  reader  to  understand  why  these  sums  are 
alike. 

Having  explained  the  origin  of  the  Day-Book  entry  of  the  30th  of 
March,  we  will  proceed  to  show  its  disposition  in  the  Journal,  thus ; 

Journal. — Company  1  Mdse.  Dr.  to  Sundries. 

To  Commission, 196  25 

"   Store  expenses, 39  00 

"   Paul  Harris, 3,807  37 

"    Profit  and  Loss, 619  88 

$4,66250 

D2  6 


42  JOURNALISING. 

Elucidation. — Company  1  Mdse.  is  debtor,  because  it  owes  us  for 
the  amount  $4,662  50,  which  we  transfer  from  its  creditor  side  to  the 
creditor  sides  of  other  accounts. 

It  is  necessary  to  make  this  transfer,  because  the  property  to  which 
the  title  of  Company  1  Mdse.  is  given  is  sold,  and  by  the  above  calcu- 
lation, we  ascertain  that  we  owe  the  creditor  balance  of  Company  1 
Mdse.  account  to  several  other  accounts  :  that  is,  that  balance  belongs 
to  other  places ;  viz.  to  Commission,  to  Store  Expenses,  to  Paul  Harris, 
and  to  Profit  and  Loss :  therefore  we  make  the  account  of  Company 
1  Mdse.  debtor  for  the  amount  we  transfer,  which  entry  closes  that 
account. 

Post  the  closing  entry  in  red  ink — this  entry  is  the  one  at  the  Com- 
pany 1  account. 


The  preceding  three  months'  business  having  been  journalised  and 
posted  up  to  the  30th  of  March  inclusive,  the  learner  may  next  proceed 
to  make  out  a  Trial  Balance  and  a  Balance  Sheet ;  the  latter  it  is  cus- 
tomary to  make  out  once  a  year,  and  the  former  monthly  or  quarterly. 

TRIAL    BALANCE. 

A  Trial  Balance  is  a  collection  of  all  the  balances  in  the  Leger  into 
two  amounts— those  balances  that  are  on  the  debtor  sides  of  the  ac- 
counts into  one  amount,  and  those  that  are  on  the  creditor  sides  of  the 
accounts  into  one  amount ;  which  two  amounts  will  be  alike,  if  the 
postings  and  additions  are  correct. 

Add  the  amounts  upon  the  debtor  and  creditor  sides  of  every  account 
in  the  Leger,  and  subtract  the  totals ;  every  account  will  then  show  its 
balance  either  on  the  debtor  side  or  creditor,  if  the  two  do  not  equal 
each  other.  These  additions  and  subtractions  are  always  performed 
with  a  lead-pencil.  We  next  copy  all  the  balances  throughout  the  Le- 
ger upon  a  sheet  of  paper  ruled  in  form  of  debtor  and  creditor,  placing 
the  debtor  balances  upon  the  debtor  side  of  the  paper,  and  the  creditor 
balances  upon  the  creditor  side  of  the  paper,  in  the  following  manner : 

Dr.  Balances  of  March  30,  1829.  Cr. 


1 

2 
3 
5 
7 
8 
10 
11 
13 

14 
17 

$     300 
4,951 
28,787 
11,392 
3,015 
1,858 
18 
165 
395 
307 
4,109 
2,020 

33 
79 

61 
76 

62 
56 

1 
1 
6 
9 
10 
11 
14 
,15 

|n 

Thomas  Blanchard,  

$26,920 
16,405 
4,293 
369 
112 
4,994 
197 
4% 
3,531 

H 

78 
32 
50 
87 
78 
10 
32 

67 

C  C.  Marsh,  

Bills  Payable,  

Rice                      

Discount  and  Interest,  
Paul  Harris  

Shipment  to  New-Orleans,  . 

S  H  Lovell           

Joseph  De  Nones,  

Walter  Howard,  

Shipment  to  Port-au-Prince, 

$57,320 

67 

$57,320 

Should  the  amounts  of  debtor  and  creditor  balances  not  correspond 
with  each  other,  there  are  errors  which  may  be  found  by  referring  to 


JOURNALISING.  43 

the  Journal,  to  see  if  the  sundries  in  each  entry  equal,  when  added,  the 
amount  carried  into  the  outer  column  ;  for  if  the  debtors  and  creditors 
do  not  equal  in  the  Journal,  they  will  not  in  the  Leger.  Next  see  that 
every  sum  in  the  Journal  is  posted  into  the  Leger  correctly  ;  and  lastly, 
re-add  and  re-subtract  the  contents  of  the  Leger,  for  the  purpose  of 
obtaining  correct  balances ;  and  should  the  first  examination  not  pro- 
duce the  result  desired,  a  repetition  is  necessary.  The  Trial  Balance 
being  completed,  we  preserve  the  totals  of  the  lengthy  columns  in  the 
Leger,  by  writing  them  at  the  foot  of  the  columns.— See  the  Cash  and 
other  accounts,  at  March  30. 

When  the  Trial  Balance  is  completed,  proceed  as  described  under 
the  date  of  July  4th,  in  making  out  a  BALANCE  SHEET. 


JOURNALISING. 
THE  RULE. 

Whoever  or  whatever  owes  us  is  Debtor — 
Whoever  or  whatever  we  owe  is  Creditor. 

Day-Book.— April  3, 

Received  of  Irvine  Fisher  300  bags  Laguayra  Coffee,  &c. 
Elucidation. — In  the  transaction  of  this  date  there  can  be  no  Jour- 
nal entry,  because  there  is  neither  debtor  nor  creditor,  that  is,  nothing 
owes  us  and  we  owe  nothing.  The  Coffee  is  Fisher's,  therefore  we  do 
not  owe  him  for  it.  This  transaction  need  not  appear  in  the  Day-Book 
— the  invoice  should  be  copied  into  the  Invoice-Book,  and  Fisher  is 
entitled  to  a  receipt  for  the  quantity  of  Coffee. 

Day-Book. — April  7. 

Renewed  Christopher  Barnard's  Note  now  due  for  2,000$. 

Elucidation. — In  the  Journal  entry  of  this  date  we  say  nothing  of 
Bills  Receivable,  because  the  circumstances  of  the  Note  are  not  changed 
— it  still  owes  us  the  2,000$,  for  which  sum  it  became  debtor  when  it 
began  to  owe  us.  We  make  a  new  entry  of  the  new  Note  in  the  Bill- 
Book — and  we  make  a  Journal  entry  of  the  interest. 

Day -Boole. — April  10. 

Paid  Cash  to  persons  for  extraordinary  defects,  &c. 

Elucidation. — In  the  Journal  entry  of  this  date,  J. '  De  Nonea  is 
debtor,  because  he  owe s  tts  for  the  amount  of  those  damages ;  we  say 
nothing  of  the  consignment,  because  it  has  been  closed  or  settled,  and 
the  net  proceeds  transferred  to  his  account. 

Merchandise  (the  title  we  gave  to  the  Olives  when  they  became  ours) 
is  creditor,  because  we  oive  it  for  the  amount  of  the  allowance  which 
has  been  made  in  the  price  of  the  Olives. 

Day-Boole.— April  11. 

Received  of  S.  H.  Level  1,  in  payment  for  Fisher's  Coffee  sold  to  him 
on  the  6th  instant,  his  Note  at  four  months,  &c. 


44  JOURNALISING. 

Journal. — Sundries  Dr.  to  Sundries. 

Bills  Receivable, 1,350  00 

Irvine  Fisher, 1.350  00 

— $2.700 

To  S.  II.  Lovell, 1,350  00 

"  Cash, 1,322  33 

"  Discount, 27  67 

82,700 

Elucidation. — I.  Fisher  is  debtor,  because  he  owes  us  for  the  amount 
we  have  paid  him — we  have  paid  him  1,350$,  because  the  Cash  $1,322 
33,  four  months  before  it  is  due,  is  equal  to  1 ,350$. 

Bills  Receivable  are  debtor,  because  the  note  received  of  Lovell  owes 
us  for  the  sum  which  he  owed. 

Day-Book. — April  16. 

Presented  Irvine  Fisher  with  an  account-sales  of  his  Coffee,  &c. 
Elucidation. — Before  this  entry  can  be  made,  all  concerning  the 
Coffee  should  be  posted  to  the  account ;  then  by  examining  the  nature 
of  each  sum  on  the  creditor  side  of  the  account,  we  ascertain  them  all 
to  be  sales  of  the  Coffee — the  total  of  which  is  4,680$ — from  which 
we  take  all  the  charges  we  have  against  it,  commission,  storage,  &c. ; 
giving  a  net  proceeds  of  4,545$.  By  these  calculations,  we  perceive 
that  we  owe  the  balance  of  the  account,  which  is  4,680$,  in  portions  to 
three  accounts,  viz.  we  owe  to  that  branch  of  our  business  called  Com- 
mission, 117$,  to  that  branch  called  Store  Expenses  18$,  and  we  owe  to 
Irvine  Fisher  the  amount  of  net  proceeds,  4,545$ ;  therefore,  these 
three  accounts  must  be  credited  instead  of  the  account  of  Fisher's  Coffee, 
which  becomes  debtor  because  it  owes  us  for  the  amount  transferred. 

Let  the  entry  on  the  Coffee  account  be  made  in  red  ink,  in  posting 
the  above,  because  it  is  a  transfer  or  closing  entry. 

Day-Book.— April  28. 

Received  per  Schooner  Josephine,  Whipple,  from  H.  B.  Walker,  &c. 

Elucidation. — In  this  entry,  Merchandise  owes  us  for  the  cost  of  the 
Hides,  6,000$ ;  it  owes  us  for  the  cost  of  the  Mahogany,  3,000$,  and 
also  for  the  freight  on  the  Hides,  200$,  making  Mdse.  debtor  for  9,200$. 

The  creditors  are  whatever  we  owe — we  owe  then,  Shipment  to  Port- 
au-Prince  for  producing  us  6,000$,  we  owe  II.  B.  Walker  for  the  net 
proceeds  of  the  Mahogany  2,650$,  we  owe  our  Schooner  for  all  the 
freight  it  produced,  and  Cash  for  paying  expenses,  and  Commission  for 
its  production. 

Day-Book. — May  1. 

Elucidation. — It  is  not  a  matter  of  necessity  to  enter  in  the  Day- 
Book  a  description  of  the  agreement  between  Hornillos,  Brown,  and 
ourselves ;  for  this  agreement  is  shown  in  the  letters  and  Letter-Book, 
as  it  was  formed  by  correspondence. 

One  third  of  the  Cotton  which  is  shipped  by  Aispurua,  Hornillos  & 
Co.  owes  us  for  the  amount  it  has  cost,  and  we  give  it  the  title  of  Ship- 
ment from  New-Orleans  to  Liverpool,  Co.  3.  As  the  shipment  is  not 


JOURNALISING.  45 

made  from  the  place  in  which  the  hooks  ;m>  kept,  the  place  it  is  from 
forms  a  part  of  its  title. 

Aispurua,  Hornillos  &  Co.  an-  CH-  l^tor,  because  we  owe  them  for 
advancing  for  us  our  one-third  of  iLo  Cotion. 

Day-Boole. — M'ay  5. 

In  the  transaction  of  this  date  we  make  two  shipments  of  Panquoqua's 
Teas — the  first  to  be  sold  for  ourselves,  and  the  second  to  he  sold  as 
Panquoqua's  consignment — in  the  first,  the  shipment  to  New-York  owes 
us  8,765$,  that  being  the  sum  it  has  cost ;  and  in  the  shipment  to 
Boston,  the  Teas  shipped  are  still  Panquoqua's  consignment,  which  has 
incurred  an  additional  expense  of  250$  for  shipping  to  a  better  market. 

Day-Book. — May  8. 

Elucidation. — Henry  Austin,  in  paying  for  the  Teas,  gives  us  1,100 
bbls.  Flour,  which  amounts  to  more  than  the  Teas  ;  but  as  the  Flour  is 
to  be  sold  for  the  concern  called  Company  2,  one-third  of  that  Flour  is 
still  his  ;  therefore  he  gives  us  only  two-thirds  of  the  Flour  in  payment 
for  the  Teas  amounting  to  4,400$,  he  must  then  owe  us  the  balance 
1,360$. 

Day-Book.— May  11. 

Elucidation. — In  this  transaction  we  ship  for  the  concern  of  Company 
2 — then  we  ship  for  ourselves  two-thirds,  and  for  Henry  Austin  one- 
third  ;  he  therefore  owes  us  for  the  amount  shipped  for  him ;  but  as  he 
advanced  towards  the  shipment,  we  will  make  him  debtor  for  the  differ- 
ence between  the  amount  of  his  third  and  his  advancement. — The 
properly  shipped  owes  us  for  the  amount  of  our  two-thirds  $4,966  12, 
and  to  that  property  we  give  the  title  of  Shipment  to  London  Company  2. 

Company  2  Mdse.  is  one  of  the  creditors  in  this  entry,  but  not  for 
3,300$  ;  for  we  do  not  owe  the  Company  2  Mdse.  that  amount — it  does 
not  advance  towards  the  shipment  for  us  any  more  than  2,200$ — the 
other  third  is  advanced  for  H.  Austin.  The  550  bbls.  of  Flour 
belonging  to  Austin  and  ourselves ;  we  had  claim  on  only  two-thirds 
of  it. 

Day- Book. — May  23. 

Elucidation. — In  this  transaction  we  have  shipped  for  the  concern 
of  Company  3 ;  then  each  party  concerned  in  that  company  owes  us 
for  their  third  advanced  for  them  by  us.  We  owe  whatever  advances 
the  whole  shipment  for  us,  and  must  credit  the  same. 

Day-BooJc. — May  27. 

Elucidation. — W.  &  J.  Brown  are  creditor,  because  we  owe  them 
for  our  one-third  of  the  Wine  consigned  to  us  by  their  order  to  be  sold 
for  themselves,  Aispurua,  Hornillos  &  Co.,  and  ourselves.  Company 
3  Wines  are  creditor  for  paying  its  own  expenses. 

Day-Book. — June  1. 

Received  from  Fleming,  Ross  &  Co.  an  account-sales,  &c. 
Elucidation. — We  will  divide  the  transaction  of  this  date  into  two 
parts,  and  consider  them  separately — the  first,  ending  at  "  Henry  Aus- 


46  JOURNALISING. 

tin's  one-third  net  proceeds,"  presents  one  debtor  and  two  creditors , 
thus — 

Flemming,  Ross  &  Co.  Dr.  To  Sundries. 

To  shipment  to  Charleston  Co.  2, 3,034  07 

"   Henry  Austin, 1,505  93 

84,540  00 

Flemming,  Ross  &  Co.  are  debtor,  because  they  owe  us  for  the 
amount  of  net  proceeds  of  the  shipment.  The  Shipment  to  Charleston 
Company  2  is  creditor,  because  we  owe  it  for  the  amount  it  has  produced 
us — as  we  paid  all  of  the  822  22  expenses  at  the  time  of  shipping,  we 
have  it  deducted  from  the  proceeds  before  dividing  the  amount  into  thirds ; 
so  that  the  shipment  produces  us  822  22  besides  our  two-thirds  of  the 
net  proceeds. 

The  second  part  of  the  Day-Book  entry,  commencing  at  "  Sold  to 
H.  Austin,"  gives  a  Journal  entry  of  three  debtors  and  one  creditor, 
thus — 

Sundries  Dr.  To  Flemming,  Ross  &  Co. 

Henry  Austin, 1,505  93 

Cash, 3,011  48 

Discount 22  58 

84,540  00 

The  two  Journal  entries  which  are  obtained  by  dividing  the  Day- 
Book  entry  into  two  parts,  may  be  condensed  into  one  Journal  entry 
of  only  two  debtors  and  one  creditor ;  thus,  in  the  first  entry,  Flemming, 
Ross  &  Co.  are  debtor — and,  in  the  second,  they  are  creditor  for  the 
same  amount ;  consequently  we  do  not  owe  them,  nor  do  they  owe  us  ; 
therefore  they  will  form  no  part  of  the  condensed  entry.  H.  Austin  is 
both  debtor  and  creditor  in  the  two  entries  and  for  the  same  sum  ;  he 
therefore  should  form  no  part  of  the  Journal  entry.  Including  all  the 
remaining  debtors  and  creditors,  our  entry  is 

Sundries  Dr.  To  Shipment  to  Charleston  Co  2. 

Cash, 3,011  48 

Discount, .* 22  59 

83,034  07 

Shipment  to  Charleston  Company  2  is  creditor,  because  we  owe  it  for 
producing  us  the  amount  of  net  proceeds  and  the  expenses  which  were 
wholly  paid  by  us.  Cash  and  Discount  are  debtor,  because  they  owe 
us  for  the  amount  produced  by  the  shipment.  The  discount  is  calcu- 
lated on  our  two-thirds  of  net  proceeds. 

Note. — Whenever  a  Day -Book  entry  includes  many  incidents  and  is 
lengthy  or  complicated,  the  reader  or  student  should  divide  the  entry 
into  complete  transactions,  and  consider  each  by  itself,  as  in  the  prece- 
ding instance. 


JOURNALISING.  47 

Day-Book. — June  5. 

Elucidation — In  the  Journal  of  this  date  we  neither  debit  T.  Per- 
kins &  Co.  for  Ihe  amount  of  the  net  proceeds,  nor  credit  them  for  the 
amount  of  the  draft  that  we  have  issued  against  them  : — they  do  not 
owe  us  for  the  proceeds,  because  we  have  drawn  on  them  for  the 
same.  We  do  not  owe  them  for  the  amount  of  the  draft,  because  we 
draw  on  them  for  the  proceeds  of  Teas  for  which  they  have  never  been 
charged.  » 

Cash  is  debtor,  because  the  specie  to  which  we  give  that  title  owes  us 
for  the  amount  of  its  par  value.  We  cannot  receive  the  Spanish  dol- 
lars responsible  for  any  more  than  their  par  value.  Panquoqua,  for 
whom  we  purchase  them,  owes  us  for  the  2  per  cent,  premium ;  he  also 
owes  us  for  the  commission,  for  they  are  bought  for  him. 

Panquoqua's  consignment  is  creditor,  because  we  owe  it  for  producing 
us  20,000$,  which  production  consists  of  Cash  and  Panquoqua's  re- 
sponsibility. Commission  is  creditor,  because  it  has  produced  us  100$. 

Note. — When  we  purchase  goods  for  another  person,  that  person 
owes  us  for  the  amount  of  purchase ;  but  if  we  purchase  Specie,  which 
differs  from  other  Merchandise  by  its  having  an  acknowledged  par  value, 
we  take  the  Specie  responsible  for  its  par  value,  and  the  person  for 
whom  it  is  purchased,  for  the  amount  of  premium,  &c.  always  choosing 
the  best  object  of  responsibility  of  which  the  circumstances  of  the  case 
admit. 

Day-Book. — June  8. 

Observation. — In  this  transaction,  owing  to  our  having  insured  only 
the  amount  of  our  third  of  the  property  shipped,  we  have  lost  the  cost 
of  insurance,  $69  33 ;  we  should  have  obtained  insurance  upon  both 
the  third  and  cost  of  insurance ;  which  is  commonly  termed  covering 
the  premium  or  insurance. 

Day-Boole.— June  13. 

Observation. — In  the  Journal  entry  of  this  date,  as  well  as  in  many 
others,  it  will  be  seen  that  the  total  of  the  Journal  entry  is  not  the  same 
as  that  of  the  Day-Book  entry ;  such  a  correspondence  might  be  kept 
if  it  were  desired,  but  we  consider  it  of  no  consequence — we  say  that 
the  position  of  sums  in  the  Day-Book  is  no  criterion  for  their  position 
in  the  Journal. 

Day-Book. — June  18. 

Elucidation. — See  May  5. 

Day-Book. — June  20. 

Elucidation. — Panquoqua  is  debtor,  because  he  owes  us  for  the 
amount  of  the  Ginseng  purchased  for  him — we  cannot  take  the  Ginseng 
responsible  for  the  amount  of  its  cost,  because  it  has  no  par  value. 

Discount  is  debtor,  because  that  branch  of  business  oices  us  the 
amount  we  have  lost  on  the  draft — we  have  not  lost  27$,  because  half 
of  the  Draft  was  H.  Austin's,  therefore  we  lose  only  half  of  the  dis- 
count. 

Shipment  to  New- York  is  creditor,  because  we  owe  it  for  producing 


48  JOURNALISING. 

us  5,400$ — the  property  received  that  title  when  it  was  shipped. 
Company  3  Wines  are  creditor,  because  we  owe  that  property  for 
paying  2,782$  to  H.  Austin,  towards  the  amount  of  his  half  of  the 
proceeds. 

Day-Book. — June  22. 

Elucidation. — In  the  Journal  entry  of  this  date,  Company  3  Wines 
is  debtor,  because  that  property  owes  us  for  the  amount  which  we  now 
transfer  to  other  accounts.  We  have  ascertained  by  an  investigation 
of  the  account  that  we  owe  the  balance  of  the  account  to  certain  other 
accounts,  viz.  to  Commission,  to  Store  Expenses,  to  Hornillos  &  Co., 
to  Brown,  and  to  Profit  and  Loss ;  these  then  are  creditors,  instead  of 
Company  3  Wines. 

Day -Book. — June  27,  (second  entry  of  this  date.) 

Elucidation. — The  Bottomry  Bond  is  responsible  and  owes  us  for 
the  amount  of  the  premium  as  well  as  principal,  2,875$. 
Day -Book. — June  29. 

Elucidation. — Panquoqua  is  debtor,  because  it  is  by  his  order  that 
we  deliver  the  90  chests  of  Teas  to  J.  Harman.  We  owe  Panquoqua's 
consignment,  because  it  produces  Panquoqua  responsible  to  us  for  the 
amount  of  7,776$. 

Day -Book. — June  30. 

Elucidation. — Panquoqua  is  not  debtor  for  the  amount  of  the  Gin- 
seng shipped  to  him,  because  he  does  not  at  this  time  begin  to  owe  us  for 
it — he  began  to  owe  us  for  the  Ginseng  when  it  was  purchased  for  him. 
But  not  so  with  the  specie,  for  when  we  purchased  that,  we  took  it 
responsible  for  its  par  value,  and  him  only  for  the  amount  paid  above 
its  par  value ;  therefore  he  now  begins  to  oioe  us  for  the  specie  itself — 
now  we  send  it  to  him. 

Day-BooJc. — July  4. 

Elucidation. — It.  is  proper  to  investigate  the  account  of  Company  2 
Merchandise,  although  the  whole  of  it  is  not  sold,  because  the  sales 
have  been  extensive,  and  consequently  the  account  involves  debts  and 
profits  or  losses,  all  of  which  should  be  exhibited  upon  our  Balance 
Sheet ;  to  which  we  are  now  about  to  direct  our  attention. 

The  entry  of  this  date,  relative  to  Company  2  Merchandise,  does  not 
close  or  balance  that  account,  because  the  entry  is  a  transfer  of  only 
the  result  of  the  sales  of  the  property,  consequently  the  account  still 
exhibits  our  property  remaining  unsold,  which  is  considered  in  a  suc- 
ceeding entry,  and  which  succeeding  entry  will  close  the  account. 


CLOSING  ACCOUNTS. 

It  is  customary  to  close  all  the  accounts  in  the  Leger  once  a  year  ; 
the  purpose  of  so  doing  is  to  obtain  a  knowledge  of  the  true  state  or 
result  of  the  business  of  which  the  Books  are  a  history.  Accounts, 
However,  are  closed  upon  dissolution  of  partnership  or  cessation  of 
business,  and  upon  the  occasion  of  opening  a  new  set  of  books. 


BALANCE  SHEET. 


The  first  object  to  which  we  direct  our  attention  at  the  time  of  closing 
our  accounts  is  the  Trial  Balance,  which  is  made  out  upon  a  sheet  of 
paper  as  described  at  the  30th  of  March.  The  following  are  the 
balances  of  July  4. 

Dr.  Balances  of  July  4,  1829.  Cr. 


I  - 

1 

2 
4 
5 

8 
9 

10 
13 

14 
18 
19 
20 

21 
22 

Store  Fixtures,  

$     300 
3,776 
49,926 
20,309 
38 

5,140 
52 
1,391 
395 
9,876 
3,933 
5,600 
3,911 
5,416 
4,966 
69 

321 

32 

48 
6] 

00 
68 
56 

86 
55 
00 
40 
48 
12 
33 

48 

1 
2 

! 

9 
11 
12 
14 

15 
19 

20 

$  22,058 
16,405 
11,975 
38,795 
353 
5,960 
654 
2,131 
197 
1,890 
7,620 
6,612 

767 

85 

78 
82 
75 
05 
87 
27 
78 
44 
14 
97 

55 

Schooner  Josephine,  

C  C  Marsh 

Cash  

Panquoqua  .    .  . 

Bills  Receivable,  

Bills  Payable,  

Merchandise,  

Rice 

Pennsylvania    Life    Insur- 
ance Stock,  

Profit  and  Loss  .       . 

Paul  Harris,  

Discount  and  Interest,  
Store  Expenses,  

Shipment  to  New-Orleans,  . 
Shipment  to  Port-au-Prince, 

S  H  Lovell 

Walter  Howard,  . 

Shipment  to  Boston,  

Wm.  &  Jas.  Brown 

Company  2  Mdse 

Shipment  from  N.  Orleans 
to  Liverpool  Co.  3  . 

Aispurua,  Hornillos  &  Co..  . 
Shipment  to  New-  York,  .  .  . 
Shipment  to  London,  Co.  2, 
Shipment  to  Hamburg,  Co.  3 
Shipment    to    Charleston, 
Co.  2,  

$  115,424 

87 

$115,424 

87 

BALANCE  SHEET. 

Our  Trial  Balance  being  perfect,  we  next  proceed  to  make  out  what 
is  called  a  Balance  Sheet ;  this  sheet  is  to  show  at  one  view  the  entire 
result  of  the  business,  or  the  exact  situation  of<  ourselves ;  which  em- 
braces our  Property  and  our  Debts,  our  Profits  and  our  Losses :  con- 
sequently, our  net  worth  and  the  net  gain  of  our  business. 

Note. — When  the  books  are  not  filled,  the  Balance  Sheet  suffices  for 
the  closing  of  the  accounts  in  the  Leger,  because  all  the  information 
which  is  obtained  by  closing  every  account  in  the  Leger  is  obtained  by 
the  Balance  Sheet.  But  if  the  account  books  are  filled,  it  is  then  proper 
to  bring  every  account  to  a  close  by  Day-Book  entries,  &c.,  as  in  the 
present  instance,  thereby  rendering  the  volumes  complete  in  themselves. 

Dr.  Balances  of  our  Property  and  Debts.  Cr. 


1 

2 
4 

5 
8 
9 

13 

18 
14 
19 
20 

S      300 
5,000 
49,926 
20,309 
1,248 

5,300 
395 
9,876 
5,600 
4.533 
3,911 
6,653 
4,966 

32 

48 
50 

86 

55 
40 
10 
12 

I 

11 
12 
19 

$  11,975 
38,795 
654 
2,131 
6,612 
31,751 
26,097 

78 
82 
87 
27 
97 
72 
89 

Schooner  Josephine,  
Cash 

Bills  Payable  

Paul  Harris,  

Bills  Receivable  

Merchandise  

Pennsylvania    Life    Insur- 

Thomas  Blanchard,  

C.  C.  Marsh  

S.  H.  Lovell,  

Walter  Howard,  

Shipment  to  Boston,      .... 

Aispurua  Hornillos  &  Co.  . 
Shipment  to  N.  York,  
Shipment  to  London,  Co.  2, 

$  118,020 

33 

$118,020 

33 

E 


50  BALANCE  SHEET. 

In  the  preceding  account  of  balances  of  Property  and  Debts,  the 
amounts  are  obtained  by  reference  to  the  Leger  and  to  an  Inventory  of 
goods,  remaining  unsold,  taken  at  first  cost. 

The  first  entry  upon  the  Balance  Sheet  is  the  amount  of  Store  Fix- 
tures at  first  cost,  taken  from  page  1  in  the  Leger. 

The  amount  of  5,0008  is  the  Schooner  at  first  cost — the  balance  of 
this  account  is  not  the  property  on  hand,  therefore  it  is  not  used  in  the 
present  instance ;  this  account  shows  both  property  and  profit — we  are 
now  taking  only  property  and  debts. 

The  balance  of  Panquoqua's  account  is  a  debt  in  his  favor ;  therefore 
we  place  it  upon  the  creditor  side  of  the  Balance  Sheet. 

The  Cash  account  exhibits  an  amount  on  hand  of  $49,926  32 — the 
balance  of  this  account  is  the  amount  of  property  on  hand,  because  this 
account  shows  but  one  thing,  viz.  Cash  ;  whereas,  the  Schooner's 
account  shows  two  things,  viz.  property  and  profit. 

The  balance  of  Bills  Receivable  account  is  the  amount  of  that  species 
of  property  on  hand. 

The  balance  of  Bills  Payable  account  is  a  debt  against  us ;  therefore 
we  place  it  on  the  creditor  side  of  the  Balance  Sheet. 

Say  nothing  of  Hardware,  for  that  account  exhibits  nothing,  being 
closed. 

Rice  account  has  a  balance  of  $353  75 ;  this  balance  is  profit, 
because  our  inventory  of  goods  in  store  informs  us  that  there  is  no  Rice 
on  hand — leave  this  balance  until  we  take  an  account  of  profits  and 
losses. 

The  Merchandise  account  shows  both  property  and  profit,  and  to 
know  the  quantity  of  property  on  hand  we  must  refer  to  the  inventory 
which  gives  227  bbls.  Mackerel  on  hand,  at  $1,248  50. 

Profit  and  Loss  account  represents  our  business  ;  therefore  it  shows 
no  property. 

Pennsylvania  Life  Insurance  Stock  first  cost,  as  shown  by  the  entry 
of  its  purchase,  Day-Book,  June  3d,  is  5,300$  ;  that  none  is  sold,  we 
know  by  the  entry  on  the  credit  side  of  the  account. 

The  accounts  of.  Discount  and  Interest  and  Store  Expenses  are 
branches  of  the  bu^iess,  and  show  nothing  but  profit  and  loss. 

Lawrence's  account  shows  that  he  neither  owes  us  nor  we  him, 
being  equal. 

Harris's  account  shows  a  balance  in  his  favor. 

Shipment  to  New-Orleans  did  show  property,  but  being  sold  it  shows 
only  profit — the  Day-Book  entries  of  February  4th  and  March  16th 
describe  this  account. 

The  account  of  shipment  to  Boston  shows  the  amount  of  two  ship- 
ments, the  first  of  which  has  been  sold,  as  appears  by  the  Day-Book 
entry  of  May  18th;  the  other,  being  unsold,  is  now  taken  at  cost 
$4,533  55. 

Company  2  Mdse.  account  shows  a  balance  of  5,600$ ;  this  balance 
is  the  amount  of  our  two-thirds  of  Company  2  property  on  hand  : — 
cur  Day-Book  entry  of  July  4,  transfers  from  that  account  everything 
but  the  property  on  hand. 


BALANCE  SHEET.  51 

At  the  shipment  to  New- York  account  we  find  that  one  of  the  ship- 
ments has  been  sold,  and  that  the  other  shipped  on  the  1st  of  July  is 
unsold — the  latter  we  consider  as  property  on  hand,  and  which  cost 
$6,653  10. 

This  account  now  exhibits  upon  the  debtor  side  all  that  is  due  us,  by 
property  or  persons ;  and  upon  the  creditor  side  all  that  we  owe : 
the  difference  is  the  amount  of  our  worth  or  net  capital  at  this  date. 

The  Balance  Sheet  should  also  show  the  profits  and  losses  of  the 
business ;  thus, 


Dr. 


Balances  of  our  Profits  and  Losses. 


Cr. 


10 

21 
22 

Discount  and  Interest,  
Store  Expenses,  

$        52 
1,391 
69 

321 

9,692 
9,692 

08 
56 
33 

48 
H8 
89 

2 

7 
8 
9 

14 

15 
20 

$    1,224 
353 
1,209 

5,960 

75 
89 
65 

78 
44 

14 

55 
C.'J 

Rice 

Shipment  to  Hamburg,  Co- 
Shipment    to    Charleston, 
Co.  2,  

Merchandise           .       .  . 

Profit  and  Loss,  

Penn.  Life  Insurance  Stock, 
Shipment  to  New-Orleans,  . 
Shipment  to  Port-au-Prince, 
Shipment  to  Boston,  

160 
197 
1,890 
600 
7,620 

767 
1,236 

To  Thomas  Blanchard,  .... 
"   C.  C.  Marsh  

Shipment    from     New-Or- 
leans to  Liverpool,  Co.  3, 
Shipment  to  N.  York,  

$21,220 

82 

$21,220 

S2 

i 

The  first  entry  upon  the  part  of  the  Balance  Sheet  headed  Profits 
and  Losses  is  a  profit  shown  at  the  account  of  the  Schooner  Josephine ; 
thus,  the  schooner  has  produced  us  1,405$;  and  cost  181$,  giving  a 
gain  of  1,224$ — leaving  out  the  5000$,.  because  that  is  the  property. 

Rice  account  shows  a  gain  of  $353  75 — all  sold  and  a  credit  ba- 
lance. 

The  gain  upon  the  Merchandise  is  obtained  thus — its  whole  cost,  the 
total  of  the  debtor  side,  $22,541  61 ;  its  whole  sales,  22,503$ ;  that 
remaining  on  hand  cost  $1,248  50,  which  subtracted  from  the  cost  of 
the  whole,  leaves  the  cost  of  what  is  sold, — and  that  from  what  it  sold 
for,  is  the  gain,  $1,209  89. 

The  Profit  and  Loss  account  shows  a  gain  of  $5,960  65. 

Life  Insurance  Stock  shows  a  gain  of  160$. 

Discount  and  Interest  shows  a  loss  of  $52  68. 

Store  Expenses  shows  a  loss  of  $1,391  56. 

Shipment  to  Boston  shows  a  gain  upon  the  first  shipment  of  600$. 
The  last  shipment  is  not  sold. 

Shipments  to  Hamburg  and  Charleston  show  losses. 

This  account  now  exhibits  all  the  losses  and  all  the  gains  from  the 
beginning  of  the  business  up  to  this  date ;  the  gains  upon  the  creditor 
side  and  the  losses  upon  the  debtor — the  difference  is  of  course  the  net 
gain  of  the  business. 

CLOSING    THE    BALANCE    SHEET. 

The  balance  of  the  Profits  and  Losses  being  the  net  gain  accruing 
from  the  business,  we  close  that  part  of  the  Balance  Sheet  by  making 


52  CLOSING  ACCOUNTS. 

the  two  last  entries  that  are  upon  its  debtor  side :  these  entries  signifv 
a  division  of  the  profits  or  net  gain,  of  which  the  partners  receive  an 
equal  share. 

The  balance  of  the  Property  and  Debts  is  our  net  worth  or  capital, 
and  it  is  closed  by  the  two  last  entries  upon  the  creditor  side :  viz, 
"Thos.  Blanchard  $31,751  73,"  and  "  C.  C.  Marsh  $26,09789." 
These  two  amounts  are  obtained  thus ;  the  balance  of  Thos.  Blan- 
chard's  account  is  the  amount  advanced  by  him  in  the  course  of  the 
business,  to  which  we  add  his  half  of  the  net  gain,  making  the  amount 
owed  him  individually  by  the  concern,  or  his  share  of  the  current  net 
capital. 

CLOSING    ACCOUNTS. 

Were  the  account  books  not  filled,  the  Day-Book  entries  commencing 
at  the  fourth  entry  of  July  4th  would  be  omitted,  because  the  same 
matter  is  contained  upon  the  Balance  Sheet ;  but  under  the  supposition 
that  the  books  are  full,  we  will  proceed  in  making  a  complete  closing 
of  all  the  accounts  by  regular  Day-Book  and  Journal  entries. 

Day-Book. — July  4,  (eigliteen  entries  under  this  date.) 
Elucidation. — The  entries  under  this  date,  beginning  at  the  fourth  up 
to  the  twenty-first  inclusive,  are  taken  from  that  part  of  the  Balance  Sheet 
entitled  "  Property  and  Debts,"  with  such  particulars  as  each  item  ad- 
mits of. 

The  Journal  entries  of  these  Day-Book  entries,  transfer  the  amounts 
of  property  and  debts  from  the  many  accounts  at  which  they  stood,  to 
one  account,  called  "  Balance,  July  4,  1829  :"  this  account  is  to  repre- 
sent the  balances  of  property  and  debts  just  as  they  were  represented ; 
that  is,  the  debtor  balances  must  be  upon  the  debtor  side  of  the  Balance 
account,  and  the  creditor  balances  upon  the  creditor  side  of  the  account : 
for  instance,  the  Journal  entry  of  this  Day-Book  entry,  viz :  "  Store 
Fixtures  on  hand,  first  cost  $30(T,"  is 

Balance         Dr. 

To  Store  Fixtures 300$ 

Balance  is  debtor,  because  it  owes  us  for  the  amount  which  we  trans- 
fer to  it.  Store  Fixtures  are  creditor,  because  we  owe  them  for  the 
amount  transferred  to  the  Balance  account. 

Note. — In  posting  these  entries  we  use  red  ink  at  all  the  accounts 
from  which  amounts  are  transferred,  being  closing  entries. 
Day-Book. — July  4,  (twenty-second  and  twenty-third  entries  of  this 

date.) 

These  two  entries  are  taken  from  the  part  of  the  Balance  Sheet  en- 
titled  "  Profits  and  Losses,"  for  the  purpose  of  conveying  them  to  the 
Profit  and  Loss  account  in  a  single  amount.  Profit  and  Loss  is  debtor 
in  the  first,  because  our  business  owes  us  for  the  losses  arising  from  it. 
The  Sundries  are  creditor,  because  we  owe  them  for  the  amounts  trans- 
ferred from  them  to  the  Profit  and  Loss  account. — and  in  the  second 
entry,  the  case  is  vice  versa. 


OPENING  NEW  BOOKS.  53 

Day-Book. — July  4,  (twenty-fourth  entry  of  this  date.) 

The  amount  of  net  gain  in  this  entry  is  the  balance  of  Profit  and 
Loss  account  after  all  the  gain  and  all  the  losses  throughout  the  books 
have  been  taken  to  that  account,  which  was  done  in  the  entries  imme- 
diately preceding  this. 

In  the  Journal  entry  of  this  date,  Profit  and  Loss  is  debtor  in  this 
entry,  because  it  owes  us  for  the  amount  we  transfer  from  its  creditor  side. 
The  Partners  are  creditor,  because  the^rm  owes  each  individually  for 
his  half  of  the*  profit. 

Day -Book. — July  4,  (twenty -ffth  entry  of  this  date.) 

This  entry  closes  the  three  and  only  unclosed  accounts ;  Balance, 
Blanchard,  and  Marsh.  The  result  of  every  account  in  the  Leger  is 
now  shown  at  these  three  accounts :  thus,  all  the  property  and  debts 
have  been  brought  to  the  balance  account,  and  all  the  profits  and  losses 
to  the  Profit  and  Loss  account,  from  thence  to  the  creditor  side  of  the 
Partners'  account.  It  is  now  that  Blanchard's  account  shows  the  amount 
due  him  of  the 'firm,  which  amount  he  would  be  entitled  to  in  case  the 
partnership  should  now  end. 

A  little  reflection  will  enable  the  reader  to  perceive  that  the  balance 
of  the  Balance  account  and  the  amount  of  the  two  balances  of  the 
Partners'  accounts  must  of  necessity  be  equal.  We  know  that  all  the 
Partners  possess  is  shown  on  the  Balance  account,  and  we  also  know 
that  what  they  had  at  the  commencement  of  the  business,  and  what  the 
business  gained  them,  is  at  their  accounts  ;  what  they  now  possess  must 
be  equal  to  what  they  possessed  at  January  5,  and  what  they  added  to 
it  by  successful  business. 

The  Journal  entry  of  this  transaction  is  made  merely  for  the  purpose 
of  closing  the  said  three  accounts ;  therefore  let  each  posting  be  made 
in  red  ink.  These  accounts  are  closed  only  because  they  are  to  be  re- 
opened in  the  new  Books. 

Blanchard  is  debtor  because  he  owes  us,  (the  Firm.)  He  cannot  be 
a  creditor  for  his  portion  of  the  capital  in  the  new  books  without  having 
his  account  balance  in  the  old  books.  The  same  with  Marsh. 

Balance  is  creditor  because  we  owe  it. 

OPENING  NEW  BOOKS. 

The  Day-Book  entry  for  the  opening  of  a  set  of  new  books  from  the 
set  just  closed,  may  be  after  the  following  manner. 

Day-Book. — July  4,  1829. 

Inventory  of  the  Property  and  Debts  of  the  firm  of  Thomas  Blan- 
chard &  Christr.  C.  Marsh,  as  per  Balance  account  of  this  date. 

Store  Fixtures,  amount  of  cost, $300  00 

Schooner  Josephine,  amount  of  cost, 5,000  00 

Cash  deposited  as  per  Bank  Books, 49,920  32 

Notes  in  our  favor,  as  per  Bill  Book, 20,309  48 

227  Rbls.  No.  1  Mackerel, 1,248  50 

E2 


54  OPENING  NEW  BOOKS. 

200  Shares  Pennsylvania  Life  Insurance  Stock, 5,300  00 

S.  H.  Lovell,  balance  of  account  in  our  favor, 395  00 

Walter  Howard,         "         "         "         "           9,876  80 

Aispurua,  Hornillos  &  Co.  "         "         "           3,911  40 

Shipment  to  Boston,  of  July  1, 4,533  55 

"        "  New- York,  of  July  1, 6,653  10 

"  London,  Co.  2,  of  May  11, 4,966  12 

Company  2  Mdse.  our  two-thirds  of  1,400  bbls.  Flour,  . . .  5,600  00 


Amounting  to 8118,020  33 

Panquoqua  balance  of  account  in  his  favor,  811,875  78 
Paul  Harris,  "         "         "         "  654  87 

Henry  Austin,       "         "         "         "  2,131  27 

Wm.  &  Jas.  Brown,       "         "         "  6,612  97 

Notes,  outstanding  as  per  Bill  Book,  38,895  82 

Amounting  to $60,170  71 


Amount  of  net  capital, $57,849  62 

Of  which  Thos.  Blanchard's  share  is $31,751  73 

C.  C.  Marsh's  share  is 26,097  89 

$57,849  62 

The  Journal  entry  of  the  above  would  be  such  as  to  make  Sundries 
Dr.  to  Sundries. — the  debtors  are  the  property  and  debts  that  ,owe  us, 
and  the  creditors  are  those  that  we  owe  ;  for  the  balance  of  the  two, 
which  is  the  net  capital,  let  the  partners  be  credited — thus, 
Sundries  Dr.  to  Sundries. 

Store  Fixtures, $    300  00 

Schooner  Josephine, 5,000  00 

Cash, 49,926  32 

Bills  Receivable, 20,309  48 

Merchandise, 1,248  50 

Penn.  Life  Insurance  Stock, 5,300  00 

S.  H.  Lovell, 395  00 

Walter  Howard, 9,876  86 

Aispurua  Hornillos  &  Co 3,911  40 

Shipment  to  Boston, 4,533  55 

Shipment  to  New- York, 6,653  10 

Shipment  to  London,  Co.  2, 4,966  12 

Company  2  Mdse 5,600  00 

$118,02033 

To  Panquoqua, $11,875  78 

"    Paul  Harris, 65487 

"    H.  Austin, 2,131  27 

"    Wm.  &  Jas.  Brown, 6,612  97 

«    Bills  Payable, 38,895  82 

«    Thos.  Blanchard, 31,751  73 

"    Christopher  C.  Marsh, 26,097  89 

$118,020  33 


DAY-BOOK 

B.  &M. 
1829. 


PHILADELPHIA,  JANUARY  5,  1829. 


Thomas  Blanchard  and  Christ.  C.  Marsh,  having  as  per  articles 
of  agreement,  dated  1st  inst.,  entered  into  partnership;  ad- 
vance the  following  capital : 

Thos.  Blanchard  advances 

Cash,  deposited  in  N.  America  Bank, $26,000  00 

Notes,  in  his  favor,  as  per  Bill  Book, 2,000  00 

Amounting  to 

C.  C.  Marsh  advances 

Cash  deposited  in  U.  S.  Bank, $12,000  00 

Hardware,  as  per  Invoice  Book, 3,125  00 

Notes  in  his  favor,  as  per  Bill  Book, 2,670  00 

Chas.  Lawrence,  balance  of  Account, 140  00 

Amounting  to 


Thos.  Blanchard  and  C.  C.  Marsh  are  indebted  to  Notes  in  favor 
of  sundry  persons,  as  per  Bill  Book, 

On  Thos.  Blanchard  for $1,080  00 

"  C.  C.  Marsh, 1,230  00 

Amounting  to 

7 


Paid  Cash  for  sundry  Store  Fixtures,  bought  of  W.  Wharton 
amounting  to 

8 


Sold  Hardware  to  Paul  Harris  at  sixty  days  credit,  Sales  Book,. 
10 


Sold  Hardware  to  William  Blakely  on  his  Note  at  thirty  days, 

Sales  Book, 

12 


Sold  Hardware  for  Cash  to  S.  H.  Lovell,  Sales  Book, 
13 


Sold  Hardware  to  Oliver  Otis  &  Co.,  for  which  they  are  to  pay 
on  the  19th  instant,  one-half  in  Cash  and  the  other  half  in 
Note  at  thirty  days,  S.  Book, 

. — : 14 


Bought  Hardware  of  Henry  Austin,  at  thirty  days  credit,  Invoice 

Book,  amounting  to 

1 15 


Bought  Hardware  for  Cash  of  Rodgers  &  Brothers,  Invoice  Book, 
amounting  to 

: 10 


Bought  Hardware  of  Rodgers  &  Brothers  on  our  Note  at  ninety 
days,  Invoice  Book, 


Bought  Rice  of  Christr.  Barnard,  amounting  to,  as  per  Invoice 

Book,  3,2008,  and  paid  him  in  Cash,  amounting  to  $2,000  00 

In  Hardware,  amounting  to 1,200  DO 


17 


Lent  Cash  to  James  Truman,  which  he  is  to  return  on  the  22d 

instant,  amounting  to 

57  8 


$    28,00000 


17,935 
45,935 


2,310 


300 


325 


500 
125 


00 
00 


00 


00 


00 


00 


2,000  00 
1,50000 


01) 


soo 


2,100 


3,200  00 


1,000 


00 


PHILADELPHIA,  JANUARY  19,  1829. 


Received  of  Oliver  Otis  &  Co.  in  full  for  Hardware  sold  them  on 

the  13th  instant,  their  Note  at  thirty  days  for.  . .      $1,000  00 

ash  for  the  balance, 1,000  00 


19 


)ld  Hardware  for  Cash  to  sundry  persons,  S.  B.,  amounting  to 
21 


Received  of  Paul  Harris  his  Note  at  sixty  days,  dated  the  8th 
instant,  in  full  for  balance  of  account, 

22 


Received  Cash  of  James  Truman  in  full, 


Delivered  our  Note  to  Henry  Austin,  at  thirty  days,  for  amount 
of  his  Bill  of  14th  instant, 


24 


Id  Hardware,  as  follows ;  Sales  Book — 

'o  S.  H.  Lovell,  on  account,  amounting  to $250  00 

For  Cash  to  Sundry  persons, 160  00 


26 


(Sold  Hardware  to  the  following  persons  on  account : 
"o  Willkm  Blakely,  amounting  to,  as  per  Sales  Book,  $200  00 
Oliver  Otis  &  Co.     do.     do.     do.  .   200  00 


28 


Cash  to  Ja.  Truman,  for  his  Note,  at  twelve^  months,  en- 
dorsed by  Paul  Harris,  amounting  to $2,000  00 

Interest  added  at  6  per  cent,  for  363  days, 121  00 


30 


Paid  Cash  to  the  Philadelphia  Bank  for  our  Note  on  C.  C.  Marsh, 

in  favor  of  Thos.  P.  Cope  &  Sons,  and  now  due,  for 

February  2 


id  Henry  Austin  for  our  Note,  being  Thomas  Blanchard's  Ac- 
ceptance, drawn  by  Joseph  Eaton  &  Co.,  Boston,  at  60  days 
sight,  for  1,080$. 

In  Hardware  Sales  Book,  amounting  to $550  00 

"  Cash,  amounting  to 525  32 

"  Discount,  the  Note  having  26  days  to  run, 4  68 


Cash  paid  to  sundry  persons  during  last  month,  for  expenses  in- 
curred as  per  Cash  Book,  amounting  to 

4 


Shipped  per  brig  Franklin,  Kay,  and  consigned  to  Lockhart  & 
Arrott,  New-Orleans,  to  be  sold  for  our  account,  sundry  arti- 
cles of  Hardware,  amounting  per  Invoice  to $1,722  22 

paid  for  insuring  &  shipping  expenses 100  00 

58 


PHILADELPHIA,  FEBRUARY  6,  1829. 


Sold  the  remainder  of  Hardware  to  Christr.  Barnard  on  his  Note, 

at  six  months,  Sales  Book, $320  00 

6 

Our  intention  being  to  discontinue  the  Hardware  business  for  the 
present,  a  closing  of  the  account  would  be  proper,  the  gain 

thereon,  as  appears  by  the  account,  is 277  22 

9 

William  Blakely  has  failed ;  the  balance  of  his  account  in  our 
favor  is  200$,  for  which  he  has  paid  Cash,  amounting  to 

$100  00 
The  balance  is  lost, 100  00  200  00 

11 

Bought  Dry-Goods  of  Haven  &  Smith,  as  per  Invoice  Book  ;  for 
which -delivered  to  them  in  payment  our  Order  at  sight  on 

Charles  Lawrence  for  balance  of  his  account, $140  00 

O.  Otis  &  Co.'s  Note,  due  the  22d  inst ,  1,000  00 

And  Cash  for  the  balance, 100  00 

1,240  Of' 
13 

Received  per  ship  Delaware,  Hamilton,  consigned  to  us  by  Wal- 
ter Howard,  London,  pursuant  to  our  order  and  for  our  account, 
an  invoice  of  Dry-Goods ;  amounting  to  £1,100  stg.  $4,888  89 
Signed  bonds  to  the  Custom-House  for  amount  of  duties, 

at  8,  10  &  12  months 1,222  22 

Cash  paid  Freight  and  Charges, 422  00 

6,53317 

Received  of  William  Blakely,  in  payment  of  his  Note  for  500$, 
now  due,  his  order  on  S.  H.  Lovell,  which  is  accepted  at  thirty 
days  sight,  for $250  00 

Interest  for  33  days  at  6  per  cent,  added, 1  37 

Face  of  the  acceptance, 251   37 

Blakely  having  failed,  the  balance  is  lost, 250  00 

501 37 

16 
Accepted  Walter  Howard's  Draft  on  us  at  twenty  days  sight,  hi 

favor  of  Lewis  Clapier,  for  £l  ,000  stg.  equal  to 4,444  44 

17 

Delivered  Dry-Goods  to  Henry  Austin,  in  payment  of  our  Note 

now  due,  Sales  Book,  for 1,500  00 

20 

Shipped  per  ship  Thames,  Robinson,  and  consigned  to  Walter 
Howard,  London,  pursuant  to  his  order,  dated  January  2, 1829 : 
viz. 

120  Tierces  Rice,  420  cwt.  at  $3  50  per  cwt $1,470  00 


Amount  carried  forward, 
50 


1,470  00 


PHILADELPHIA,  FEBRUARY  20,  1829. 


Amount  brought  forward  $1,470  00 
12  Tons  Pearl  Ashes,  bought  of  Wm.  Evans  on  ac- 
count, at  105$  per  ton, ,     1,260  00 

Cash  paid  shipping  Expenses, $75  00 

Cash  paid  the  Phoenix  Insurance  Co.  for  3  per 

cent,  premium  on  2,805$,  policy  1$ 85  15 


Our  commission  for  Shipping,  2^  per  cent..  .  ,$70  12 
Do.  do.  do.     effecting  Insurance, 

\  per  cent 14  02 


160  15 


84  14 


21 


Bartered  with  Christr.  Barnard,  a  quantity  of  Dry-Goods,  Sales 
Book,  for  the  same  amount  in  Rice,  Invoice  Book,  amounting* 
to $1,530  00 

Also,  delivered  to  him  our  Note  at  sixty  days  in  ex- 
change for  his,  same  amount  and  time, 800  00 


23 


Sold  Dry-Goods  to  James  Truman,  for  which  received  payment 

as  follows : 

His  Note  at  sixty  days  for $500  00 

Cash  amounting  to 120  00 

The  balance  he  is  to  pay  in  an  acceptance  receivable 

on  the  26th  instant,  for 1,000  00 


11 


Sold  Dry-Goods,  as  per  Sales  Book,  to  T.  &  A.  Vinton,  on  their 
Note  at  ninety  days  for  2,000$ ;  which  the  Commercial  Bank 
has  discounted  at  six  per  cent,  its  face, $2,000  00 

Discount  allowed,  93  days, 31  00 

Amount  of  Cash  received,  . 


25 


Bought  the  Schooner  Josephine  of  capt.  Caleb  Davis  ;  delivered 
to  him  in  payment,  at  8  per  -cent,  advance,  our  Bill  of  Ex- 
change at  sixtv  days  sight,  on  Walter  Howard,  London,  for 

£500  stg.  .  . .". $2,222  22 

Advance, ,       177  78 

Cash  for  the  balance, 2,600  00 


26 


Received  of  James  Truman  his  Order  at  sight  on  William  Evans, 
which  is  accepted,  and  considered  in  account  for .  . ". 


Cash  paid  for  sundry  rigging  and  repairs  for  our  Schooner  Jose- 
phine, as  per  Receipt, —  .  .  . 


PHILADELPHIA,  FEBRUARY  27,  1829. 


Shipped  per  schooner  Josephine,  Whipplc,  &  consigned  to  II.  15. 
Walker  &  Co.  Port-au-princc,  to  be  sold  for  our  account ;  a 
quantity  of  Domestic  Goods,  received  of  I.  Fisher  in  cxchan 
for  Imported,  amounting  to $1,200  00 

200  Boxes  of  Soap, $300  00 

200     do         Candles,  Sperm, 1,890  00 

—   2,190  00 

Bought  of  J.  R.  Dallett  &  Co,  for  our  Note  at  sixty 
days. 

144  Cheeses,  bought  of  Chas.  Lawrence  on  account, 

amounting  to 288  00 

Freight  due  the  schooner  Josephine 230  00 

28 

Insured  at  the  Phoenix  Insurance  Office,  our  shipment  to  Port-au- 
Prince,  of  27th  inst.:  passed  our  Note  to  the  said  Company,  at 
ninety  days  for  2  .per  cent,  premium  on  4,0288  tlu;  amount  of 

said  shipment,  and  policy  1$ $81  56 

ash  paid  for  shipping  expenses  incurred  on  the  27th  inst. 

120  00 

201  56 

Effected  Insurance  with  the  Atlantic  Insurance  Com- 
pany on  our  schooner  Josephine,  to  the  amount  of 
5,000$  at  one-half  per  cent,  premium,  policy  1$,  for 
which  paid  cash,  amounting  to 26  00 

March  2 

Sold  Dry-Goods  to  Wm.  Blakely  ;  received  of  him  in  payment, 
Charles  Lawrence's  order  on  us  at  sight,  which  we  consider 
in  account  for $288  00 

Also,  sold  to  Oliver  Otis  &  Co.  as  per  Sales  Book,  on 

account,  amounting  to 500  00 

Amount  of  Cash  paid  for  sundry  expenses,  incurred  last  month 
as  per  Cash  Book,  is 

3 _ 

deceived  per  brig  Clio,  Kirk,  consigned  to  us  by  Joseph  De  Nones, 
Cadiz,  to  be  sold  for  his  account,  an  invoice  of  Olives,  Oranges, 
and  Lemons,  amounting  to  2,700$. 

2ash  paid  for  Freight  and  Duties,  amounting  to 


Sold  for  Cash  152  Boxes  of  De  Nones'  Lemons  and  Oranges,  to 
sundry  persons,  as  per  Commission  Sales  Book,  amounting  to 

F  (>1 


PHILADELPHIA,  MARCH  4,  1829. 


Sold  of  De  Nones'  consignment,  as  follows  :  to  Charles  Lawrence 
on  account, 

25  Boxes  of  Oranges  at  3$,  amounting  to $75  00 

200  Jars  of  Olives  at  50  cts.  amounting  to 100  00 

175  00 
To  Thomas  Milton  for  Cash,  100  boxes  of  Oranges  at 

3$,  amounting  to 300  00 

5 _ 

Received  Cash  of  Oliver  Otis  &  Co.  for  their  acceptance,  being 
T.  Perkins  &  Co.'s  draft  at  sixty  days  sight  in  favor  of  C.  C. 
Marsh,  and  now  due  for $2,670  00 

Also,  received  of  them  their  note  at  sixty  days,  for  bal- 
ance of  account, 700  00 

Interest  for  63  days,  at  6  per  cent,  added, 7  35 

7 

Paid  Cash  to  sundry  persons  for  damages  extraordinary  in  De 
Nones'  Oranges  and  Lemons,  sold  on  the  3d  and  4th  instant, 

$45  00 
Made  allowance  to  Charles  Lawrence  on  account 10  00 

.......   *.. 

9 

Sold  to  S.  H.  Lovell  on  account,  as  follows : 

20  Tierces  of  Rice,  Sates  Book,  amounting  to $245  00 

50  boxes  of  Lemons  and  Oranges  of  De  Nones'  con- 
signment, Commission  Sales  Book, 150  00 

395  00 
Received  of  him  Cash  in  full  for  balance  of  account  of 

January  24,  . .  . 250  00 

« 

Delivered  to  Lewis  Clapier,  in  payment  of  our  acceptance,  being 
Walter  Howard's  draft  at  twenty  days  sight,  now  due  for 
$4,444  44. 

Cash  amounting  to $2,500  00 

Check  on  the  United  States  Bank  for 1,944  44 

10 

Sold  at  auction  for  Cash,  of  De  Nones'  consignment,  as  follows : 

150  Boxes  of  Lemons,  at  $5  per  box, $750  00 

110     do.       Oranges,  at  3  80  per  box, 418  00 

220  Jars  of  Olives       at     50  cts.  per  jar, 110  OjO 


Amount  carried  forward,  1,278  00 
62 


PHILADELPHIA,  MARCH  11,  1829. 


Amount  brought  forward,              $1,278  00 
Auctioneer's  commission,  &c.  3£  per  cent 44  73 

Net, 1,233  27 

Received  to  our  account  of  Mdse.  the  remainder  of  De 
Nones'  consignment, 

4,000  Jars  Olives,  at  market  price,  50  cts 2,000  00 

$3,23327 
11 

Received  Cash  of  Paul  Harris,  for  his  Note  now  due,  for  $325  00 
Received,  also,  of  him,  for  1 ,000  jars  of  Olives,  at  52£  cts.  per 

jar,  Cash  amounting  to 525  00 

85000 
14 

De  Nones'  consignment  is  chargeable  for  5  per  cent,  commission 

on  $4,314  27  the  amount  of  total  sales, $215  71 

For  Storage  and  Advertising, 52  24 

26795 

De  Nones'  consignment  account  which  we  now  close,  exhibits  an 

amount  of  net  proceeds  of I         3,531  32 

16 

Received  from  Lockhart  &  Arrott,  New-Orleans,  an  account 
sales  of  our  shipment  to  them,  per  brig  Franklin,  February  4th 
— net  proceeds |  2,020  00 

u 

Received  Cash  of  S.  H.  Lovell,  in  full  for  his  acceptance,  drawn 

in  our  favor  by  Wm.  Blakely,  and  now  due  for 251  37 

18 

3aul  Harris  has  advanced  to  us  to  be  expended  as  his  half  hi  the 
concern  now  existing  between  him  and  ourselves,  for  the  pur- 
pose of  buying  and  selling  merchandise  on  joint  account,  Cash 

amounting  to .  .  . . : 2,000  00 

The  title  of  Company  1  Mdse.  will  be  given  to  property  belong- 
ing to  Paul  Harris  and  ourselves. 

20 

Bought  for  Cash  of  Bunker  &  Starr,  on  account  of  the  concern 
of  Company  1,  800  barrels  of  Flour  at  5$  per  barrel,  amount- 
ing to  4,000$;  of  which  our  one-half  is $2,000  00 

Paul  Harris's  one-half  is 2,000  00 

4,000  00 
21 

deceived  of  Paul  Harris,  to  be  sold  for  the  concern  of  Company 
1,  500  barrels  of  Flour,  at  $4  75  per  barrel,  amounting  to 
2,375$ ;  of  which  amount  our  one-half  is 1,187  50 


63 


PHILADELPHIA,  MARCH  23,  1829, 


Sold  to  E.  N.  Bridges,  500  barrels  of  Company  1  Flour,  at  6$ 

per  bbl.,  amounting  to  $3,000. 
Received  of  him  in  payment  our  Note  to  Rodgers  &  Brothers, 

due  the  19th  of  April  next,  for $2,100  00 

[nterest  for  26  days,  at  6  per  cent,  allowed, 9  10 

2,090  90 
Received  of  him  Cash  for  the  balance, 909  10 

24 

Paid  Cash  to  C.  C.  Marsh  on  account,  amounting  to 

26 

Bought  of  Thos.  P.  Cope  &  Sons,  their  Set  of  Exchange  on 

William  &  James  Brown,  Liverpool,  at  20  days  sight,  in  our 

favor,  for  £1,000  sterling, $4,444  44 

Advance  at  8  per  cent 355  56 

Delivered  to  them  in  payment  400  barrels  Company  1  Flour,  at 

6$  per  barrel,  amounting  to $2,400  00 

Cash  for  the  balance, *  - 2,400  00 

27 

Sold  to  Oliver  Otis   &  Co.  200   barrels  of  Company  1    Flour, 

at  $6  per  barrel,  amounting  to  1 ,200$. 
Received  of  them  in  payment,  as  follows — 
Their  Order  at  sight  on  William  Evans,  which  we  consider  in 

account  for $260  00 

Their  Note  at  sixty  days  for 500  00 

ash  for  the  balance, 440  00 

28 

Bartered  with  Haven  &  Smith  the  remaining  200  barrels  of  Com 
pany  1  Flour,  at  $6  25  per  barrel,  amounting  to  1,250$.    For 
which  received  227  barrels  No.  1  Mackerel,  at  $5  50  per  bar 

rel,  amounting  to $1,248  50 

And  Cash  for  the  balance, 1   50 

— : so 

In  closing  the  account  of  Company  1  Mdse.  the  following  is  the 
result — total  sales  amount  to  7,850$,  on  which  our  Comrnis 

sion,  at  2£  per  cent,  is $196  25 

Storage  chargeable  on  1,300  barrels  of  Flour  at  3  cents 

per  barrel,  per  month, 39  00 

The  net  proceeds  amount  to  $7,614  75,  of  which  Paul 

Harris's  one-half  is 3,807  37 

Our  one-half  of  net  proceeds  is $3,807  38 

Our  one-half  of  first  cost  is 3,187  50 

Our  net  gain  is 619  88 

64 


PHILADELPHIA,  APRIL  1,  1829. 


Paid  Cash  for  sundry  expenses  incurred  last  month  as  per  Cash 

Book,  amounting  to $162  00 

To  Stephen  Girard  for  three  months  rent  of  warehouse,  300  00 


Received  per  ship  Missouri,  Rodgers,  consigned  to  us  by  Lock- 
hart  &  Arrott,  New-Orleans,  pursuant  to  our  order  and  for  our 
account,  in  full  for  net  proceeds  of  Hardware,  account-sales 
were  received  on  16th  ult.;  230  bales  Louisiana  Cotton,  amount- 
ing to  $2,020  00 

Paid  Cash  for  Freight  and  Charges, 300  00 

3 

Received  of  Irvine  Fisher,  300  bags  Laguayra  Coffee,  27,000 
pounds,  to  be  sold  for  him,  on  commission,  as  per  invoice,  at 

12-|-  cents  per  pound,  amounting  to. « , . . . 

6 

Sold  of  Fisher's  Coffee,  as  follows — 

To  S.  H.  Lovell,  at  four  months  credit,  75  bags,  6,750  pounds, 
at  20  cents,  amounting  to $1,350  00 

To  Oliver  Otis  &  Co.  on  account,  50  bags,   4,500 

pounds,  at  18  cents  per  pound, 810  00 

7 

Renewed  Christopher  Barnard's  Note  now  due  for  2,000$;  re- 
ceived his  Note  endorsed  by  Paul  Beck,  at  sixty  days,  for  the 
same  amount 

Interest,  paid  in  Cash,  for  63  days, 

8 

Sold  for  Cash  to  Mayer  &  Lohman,  100  bags  of  Fisher's  Coffee, 
9,000  pounds,  at  16  cents,  amounting  to  1,440$ ;  which  amount 

we  have  paid  to  Irvine  Fisher, 

10 _ 

Paid  Cash  to  sundry  persons  for  extraordinary  defects  found  in 
De  Nones'  consignment, $22  00 

Amount  of  damages  found  in  the  4,000  jars  of  Olives 
received  to  our  account  from  said  consignment,  is  con- 
sidered at 40  00 

1 1 

Received  of  S.  H.  Lovell,  in  payment  for  Fisher's  Coffee  sold  to 
him  on  the  6th  instant,  his  Note  at  four  months  for  1,350$; 
which  we  have  Cashed  at  6  per  cent,  discount,  and  paid  to  Ir- 
vine Fisher, $1,322  33 

Discount, • 27  67 


65 


F2 


PHILADELPHIA,  APRIL  13,  1829. 


Shipped  per  brig  Pilot,  Milton,  and  consigned  to  Joseph  Eaton  & 

Co.  Boston,  to  be  sold  for  our  account— 

115  bales  Louisiana  Cotton,  amounting  to $2,160  00 

1000  jars  Olives,  at  50  cents,     do 500  00 

50  bags  Fisher's  Coffee,  4,500  pounds,  at  16  cents,       720  00 
Cash  paid  for  shipping  expenses, 120  00 

14 , 

Received  of  Oliver  Otis  &  Co.  for  amount  of  their  bill  for  Fish- 
er's Coffee,  sold  to  them  on  the  6th  instant,  their  Order  at  sight 

on  Irvine  Fisher  for $310  00 

And  Cash  for  the  balance, 500  00 

15 

Delivered  to  Thomas  Blanchard  on  account,  viz :  3  bags  Fisher's 

Coffee,  270  pounds,  at  16  cents, $43  20 

Cash,  amounting  to 500  00 

16 

Sold  for  Cash  to  Paul  Harris  the  remaining  22  bags  of  Fisher's 
Coffee,  1,980  pounds,  at  16  cents,  amounting  to 

_______^^_______________    tt 

Presented  to  Irvine  Fisher  an  account-sales  of  his  Coffee ;  from 
which  the  following  result  is  obtained — 

Total  sales  amount  to  4,680$,  on  which  our  commis- 
sion at  2£  per  cent,  is $117  00 

Charges  for  Storage,  Advertising,  and  Repairs, 18  00 

Irvine  Frsher's  net  proceeds  amount  to ..............  4,545  00 

18 

Sold  to  Mayer  &  Lohman  150  tierces  of  Rice,  595'cwt.  at  $3  50, 

amounting  to  $1,837  50. 
Received  of  them  in  payment,  Irvine  Fisher's  Note,  due  the  20th 

instant,  for $1,200  00 

And  Cash  for  the  balance, 637  50 

Delivered  to  Irvine  Fisher,  in  full  for  balance  of  account,  his,  the 

above,  Note  for $1,200  00 

And  Cash,  amounting  to 245  00 

20 

Bought  at  Lippincott  &  Co.'s  auction,  in  joint  account  with  Henry 
Austin,  his  proportion  to  be  one-third,  500  dozen  Madeira  Wine, 
at  10$  per  dozen,  amounting  to  $5,000. 

Delivered  in  payment  our  Note  at  four  months,  for.  .  $2,033  33 
Christr.  Barnard's  Note,  due  24th  instant,  for 800  00 


Amount  carried  forward 
66 


2,833  00 


PHILADELPHIA,  APRIL  20,  1829. 


Amount  brought  forward,  $2,833  33 

James  Truman's  Note,  due  26th  instant,  for .  .  500  00 


The  amount  of  our  two-thirds, , 3,333  33 

Henry  Austin's  one-third   was  paid  for  by  himself, 

amounting  to 1,686  67 


The  property  belonging  to  Austin  and  ourselves,  will  receive 
the  title  of  Company  2  Mdse. 

21 


Bought  for  Cash  of  Robinson  &  Little,  12  Union  Canal  Lottery 
Tickets,  at  10$  each,  amounting  to $120  00 

And  also  exchanged  475$  in  uncurrent  Bank  Bills,  at  If 

per  cent,  discount, . 8  31 


23 


Sold,  through  Beers,  Booth  &  St.  John,  Thos.  P.  Cope  &  Sons' 
Set  of  Exchange,  at  20  days  sight  on  William  &  James  Brown, 
Liverpool,  in  our  favor,  for  £l,000  sterling, $4,444  44 

Premium  at  8£  per  cent,  amounting  to 377  78 


Brokerage  at  one-fourth  per  cent. 


4,822  22 
12  06 


Received  in  payment  our  Note  to  J.  R.  Dallett  &  Co.  due  the 

30th  instant,  for $2,190  00 

[nterest  for  7  days  allowed, 2  55 

$2,187  45 

And  Cash  for  amount  of  the  balance, 2,622  71 


The  above  Premium,  $377  78 
Do.  Brokerage,     12  06 


Balance  $365  72 


24 


Renewed  our  Note  passed  to  Christr.  Barnard,  February  21st, 
for  800$,  and  discounted  at  the  Commercial  Bank.  Delivered 
to  the  Bank  a  new  Note  at  sixty  days,  endorsed  by  Davis  & 
Desauque,  for  the  same  amount,  and  paid  Cash  for  63  days 

interest,  at  6  per  cent 

27 


Bought  at  Graham  &  Mandeville's  auction,  for  Cash,  50  chests 
Young  Hyson  Tea,  4,500  pounds,  at  $1  05  per  pound,  amount- 
ing to  4,725$. 

Sold  the  same  for  Cash  to  J.  Percival,  at  3  per  cent,  advance — 
gained  thereby 


Received  Cash  of  Robinson  &  Little,  being  the  net  amount  of 
prize  money  accruing  from  the  tickets  bought  on  the  21st  in 
stant, 


67 


PHILADELPHIA,  APRIL  27,  1829. 


Received,  inclosed  in  an  anonymous  letter,  addressed  to  us,  Cash 
amounting  to 

. 28 


Received  per  schooner  Josephine,  W hippie,  from  H.  B.  Wr.lker 
&  Co.  Port-au-Prince,  37  tons  St.  Domingo  Hides,  being  in 
full  for  net  proceeds  of  our  shipment  to  them  of  February  27th, 
sales  now  rendered,  amounting  to $6,000  00 

Amount  of  Freight  on  our  Hides,  per  schooner 200  00 


Received,  also,  to  be  sold  for  their  account,  20,000  feet  of  Maho- 
gany, amounting  per  invoice  to  2,4008  ;  which  we  have  taken 
to  our  account  at  the  market  price  of  15  cents  per  foot,  $3,000  00 

Amount  of  Freight  on  the  Mahogany, $125  00 

Expenses  paid  in  Cash  on  mahogany, 75  00 

Our  commission  at  5  per  cent  is,  ,...„..,.     150  00 

350  00 


Amount  of  H.  B.  Walker  &  Co.'s  net  proceeds 2,650  00 


29 


Received  Cash  of  Captain  W  hippie  for  amount  of  Freight  ac 
cruing  from  schooner  Josephine,  by  her  voyage  to  Port-au 
Prince > > 

. . 30 . 


Cash  paid  for  sundry  expenses  incurred  this  month,  as  per  Cash 
Book, 

May  I 


An  agreement  exists  between  Aispu-rua  Hornillos  &  Co.  Havana, 
William  &  James  Brown,  Liverpool,  and  ourselves;  stipulating 
an  intention  of  the  partners  to  make  consignments  to  each 
other  (regulated  therein  by  their  best  knowledge  of  the  mar- 
kets) in  which  each  will  be  equally  concerned  in  the  amounts, 
the  p-ofits,  and  losses;  and  Commission  will  be  allowed  on  the 
purchases  and  sales. 

A-ispurua  Hornillos  &  Co.  advise  us  (per  letter  25th  ult.)  that 
they  have  shipped,  in  accordance  with  the  said  agreement, 
from  New-Orleans,  per  barque  Hercules,  Pelaskie,  to  William 
&  James  Brown,  Liverpool,  1,500  bales  Sea  Island  Cotton, 
amounting,  per  invoice,  to  12,900$,  of  which  our  one-third 


The  property  of  this  concern  will  receive  the  title  of  Company  3. 

~ 4 


Received  per  ship  Caledonia,  Barr,  consigned  to  us  by  Panquo- 
qua,  Canton,  to  be  sold  for  his  account,  1,000  chests  of  Teas, 
amounting  to  33,600$. 

Passed  bonds  to  the  Custom-House  for  duties  on  the  above  Teas, 
at  8,  10,  12,  14, 16,  and  18  months,  amounting  to  $28,800  00 

Freight  and  Charges  paid  in  Cash, 5,090  00 


PHILADELPHIA,  MAY  5,  1829. 


Shipped  per  schooner  Josephine,  \Vhlpple,  and  consigned  to  Fran- 
cis H.  Nicoll  &  Co.  New-York,  to  be  sold  for  our  account,  100 
chests  of  Panquoqua's  Teas,  at  market  price,  amounting 

to $8,640  00 

Cash  paid  for  shipping  expenses, 75  00 

Freight  due  our  schooner  Josephine, 50  00 

Also,  shipped  in  the  same  vessel,  consigned  to  T.  Perkins  &  Co. 

Boston,  to  be  sold  for  account  of  Panquoqua,  200  chests  of 

Panquoqua's  Teas,  amounting  to  17,200$. 
Paid  shipping  expenses  in  Cash,  amounting  to. ......  $150  00 

Freight  due  our  schooner  Josephine, 100  00 

6 

Sold  of  Panquoqua's  Teas,  as  follows — 

To  John  Godard,  on  his  Note  at  four  months,  20  chests,  1,920 

pounds,  at  $1  per  pound,  amounting  to $1,920  00 

To  Hamilton  &  Hood,  on  their  Note  at  six  months,  30 

chests,  2,880  pounds,  at  $1,  amounting  to 2,880  00 

To  Joshua  Percival,  on  his  Note  at  four  months,  25 

chests.  2,400  pounds,  at  1$,  amounting  to 2,400  00 

To  Paul  Harris,  on  account,  40  chests,  3,840  pounds, 

at  1$  per  pound,  amounting  to 3,840  00 

8 

Sold  to  Henry  Austin,  60  chests  of  Panquoqua's  Teas,  amount 

ing  to  5,760$. 
Received  in  payment,  and  to  be  sold  for  the  concern  of  Company 

2,    1,100  barrels  of  Flour,  at  6$  per  barrel,  amounting  to 

6,600$,  of  which  our  two-thirds  are, $4,400  OG 

The  balance  to  account, 1,360  00 

11  

Shipped  per  Red  Rover,  Wilder,  and  consigned  to  Walter  How 
ard,  London,  to  be  sold  for  the  concern  of  Company  2 ;  as 
follows — 
125  Tierces  Rice,  amounting  to,  per  Sales  Book, .  . .  .$1,531  25 

115  bales  Louisiana  Cotton,         do.  do 2,160  00 

550  barrels  Company  2  Flour,  at  6$ 3,300  00 

rlenry  Austin  paid  the  shipping  expenses.  .  .  $240  00 
And,  also,  passed  his  Note  to  the  Phoenix  In- 
surance Company,   for  amount  of  3  per 
cent,  premium  on  $7,231  25,  policy  1$,. .    217  94 

457  94 

Of  which  total  amount  our  two-thirds  are, $4,966  12 

And  Henry  Austin's  one-third  is $2,483  07 


Amounts  carried  forward, 
69 


2,483  07  4,966  12 


PHILADELPHIA,  MAY  12,  1829. 


Amounts  brought  forward,     $2,483  07  4,966  12 
Elenry  Austin  advanced  towards  his  one- 
third,  the  above  expenses  8457  94,  and 
one-third  of  the  above  Flour  $1,1 00,  mall    1,557  94 

Balance, 8925  13 

$5,891  25 
12 

Shipped  per  brig  Langdon  Cheves,  Baker,  and  consigned  to 
Flemming,  Ross  &  Co.  Charleston,  to  be  sold  for  the  concern 
of  Company  2,  500  dozen  Madeira  Wine,  at  10$  per  dozen, 
amounting  to  5,000$,  of  which  our  two-thirds  are  $3,333  33 

Cash  paid  the  amount  of  shipping  expenses 22  22 

3,35555 
14 

Bought  for  Cash  of  Lewis  Clapier,  his  Set  of  Exchange  at  15 
days  sight,  on  R.  W.  Meade,  Cadiz,  in  favor  of  Joseph  De 
Nones,  to  whom,  by  his  order,  we  have  remitted  said  Bill,  per 

brig  Clio,  Kirk,  amounting  per  face  to $3,469  32 

Discount  at  1^  per  cent,  allowed, 52  04 

3,417  28 
16 

Received  Cash  of  Benjamin  Wilcox,  Esq.  on  account  of  Panquo- 
qua,  Canton,  being  in  full  for  amount  of  his  Draft  at  sight,  re- 
mitted to  us  for  collection,  amounting  to $12,000  00 

Our  one-half  per  cent,  commission, 60  00 

11,94000 
18 

Received  from  Joseph  Eaton  &  Co.  Boston,  an  account-sales  of 
our  shipment  to  them  of  April  13th;  net  proceeds  amount  to 
4,100$ ;  for  which  they  have  remitted  to  us  their  Bill  at  sight 

on  Eldridge  &  Brick,  which  is  paid  in  Cash, I        4,100  00 

19 

Sold  to  Henry  Austin  on  account,  one-half  of  our  shipment  to 
New- York,  of  the  5th  instant,  at  5  per  cent,  advance.  Amount 

of  shipment  8,765$,  one-half  of  which  is $4,382  50 

Advance, 219  12 

4,601  62 
20 

Bought  of  Bunker  &  Starr  for  the  concern  of  Company  2,  2,500 
barrels  of  Flour  at  6$  per  barrel,  amounting  to.  .$15,000  00 
To  which  Henry  Austin  has  advanced  500   barrels 

at  6$  per  barrel,  amounting  to 3,000  00 

18,00000 

Our  two-thirds  of  which  total  amount  are , . .  .$12,000  00 

Henry  Austin's  one-third  is 6,000  00 

18,000  00 
Delivered  to  Bunker  &  Starr  in  payment,  125  chests  of  Panquo- 

qua's  Teas,  amounting  to $12,000  00 

Henry  Austin  paid  the  balance, 3,000  00        15,000  00 

70  


PHILADELPHIA,  MAY  22,  1829. 


Sold  to  Henry  Austin  for  Cash,  60  chests  of  Panquoqua's  Teas, 
amounting  to $4,032  00 

Received  of  him  Cash  for  the  balance  of  account  of 

the  8th  instant, 1 ,360  00 

Also,  delivered  him  our  receipt  for  the  balance  of 
Charles   Lawrence's   account,   received  of  him  in 

Cash,  amounting  to 165  00 

$5,557  00 
23 

Shipped  per  ship  Ruth  &  Mary,  Tubbs,  and  consigned  to  Menge 
&  Meriman,  Hamburg,  to  be  sold  for  account  of  Company  3, 
as  follows  : — 

20,000  feet  of  Mahogany,  at  20  cents  per  foot,  amounting,  per 
Sales  Book,  to $4,000  00 

550  barrels  of  Company  2  Flour,  at  $7, 3,850  00 

Cash  paid  shipping  expenses 150  00 

Our  Commission  at  2£  per  cent,  for  shipping 200  00 

8,200  00 

Aispurua,  Hornillos  &  Co.'s  one-third  of  the  above  total  is  2,733  33 

William  &  James  Brown's         do.         do.  do..   2,733  33 

And  our  one-third  is 2,733  34 

8,200  00 
25 

Received  of  Henry  Austin,  his  Note  at  sixty  days,  for  amount  of 
his  half  of  shipment  to  New- York,  sold  to  him  on  the  19th 
instant,  amounting  to $4,601  62 

Also,  received  Cash  of  him  on  account 925  13 

5,526  75 
27 " 

Received  per  ship  Brilliant,  Bosquet,  from  Lewis  Blain,  Mar- 
seilles, consigned  to  us  by  order  of  William  &  James  Brown, 
Liverpool,  to  be  sold  for  the  concern  of  Company  3,  60  pipes 
of  Wines,  amounting  to,  per  invoice |  11,340  00 

Our  one-third  of  said  Wine  is $3,780  00 

Delivered   our  Bonds  to  the   Custom-House,  for  the 

amount  of  duties,  at  6,  8,  10,  and  12  months 6,000  00 

Sold  in  payment  for  Freight,  225  gallons  of  the  above 

Wine,  at  $2  25, 506  25 

Paid  Charges,  &c.  in  Cash,  amounting  to 13  75 

10,30000 

29 

Sold  to  Oliver  Otis  &  Co.  5  pipes  of  Company  3  Wines,  630 
gallons,  at  $2  25  per  gallon,  amounting  to $1,417  50 

And  delivered  to  them  their  Note,  due  the  8th  inst.  for      707  35 

Interest  for  21  days  from  the  8th  instant, 2  48 


$2,127  33 
For  which  total  amount,  received  their  Note  at  90 

days,  with  interest  at  6  per  cent,  amounting  to   ...        34  53 

71  


2,161 


86 


PHILADELPHIA,  MAY  30,  1829. 


deceived  Cash  of  Oliver  Otis  &  Co.  in  payment  for  their  Note 

now  due,  amounting  to 

31 

Daid  Cash  to  the  Phoenix  Insurance  Company,  as  follows  : 

?or  our  Note  to  them  now  due,  for $81   56 

\nd  for  2£  per  cent.  Insurance  on  $2,733  34,  being 
the  amount  of  our  one-third  of  shipment  to  Ham- 
burg of  Company  3,  on  the  23d  inst.  insured  by 
the  Company,  policy  $1 69  33 

a 

Dash  paid  for  sundry  expenses  incurred  this  month,  as  per  Cash 

Book,  amou  nting  to 

June  1 

deceived  of  Flemming,  Ross  &  Co.  Charleston,  an  account-sales 

of  our  shipment  of  Company  2  Wines,  for  the  concern  of 

Company  2,  of  the  12th  ultimo,  proceeds  amount  to  $4,540  00 
Amount  of  expenses  incurred  on  the  12th  ultimo. ...  22  22 

Do.         net  proceeds, 

Of  which  last  amount  our  two-thirds  are $3,011  85 

To  which  add  the  amount  of  expenses  paid  by  us  on 

the  12th  ultimo, 22  22 

Our  share  of  the  returns, $3,034  07 

lenry  Austin's  one-third  of  net  proceeds, 1,505  93 

Sold  to  Henry  Austin  for  Cash,  our  Draft  at  10*  days  sight,  on 

Flemming,  Ross  &  Co.  for  amount  of  proceeds,  being  $4,540  00 

Allowed  him  f  per  cent,  discount  on  our  two-thirds  of 

said  Draft,  being  $3,011   85,  amounting  to 22  59 

$4,517  41 
iustin's  one-third  of  said  Draft  is 1,505  93 

3 

Bought  of  William  Patton,  Jr.  200  shares  of  Pennsylvania  Life 
Insurance  Stock,  at  $26  50  per  share,  (par  value  20$)  amount 
ing  to  5,300$.  • 

Sold  to  him  in  payment,  1,270  gallons  of  Company  3  Wines,  at 

$3  50  per  gallon,  amounting  to $4,445  00 

ash  for  the  balance, .  855  00 


Bought  of  F.  H.  Barker  on  account  of  Thomas  Blanchard,  50 
shares  of  New- York  Merchants  Bank  Stock,  at  8  per  cent 
discount,  (par  value  100$  per  share)  amounting  to  4,600$ 
Carried  forward, 
72 


PHILADELPHIA,  JUNE  4,  1829. 


Brought  forward, 
Sold  to  them  in  payment  our  Bill  of  Exchange  at  sixty  days 
sight,  on  Walter  Howard,  London,  for  1,000£  stg.  $4,444  44 
Allowed  them  £  per  cent,  discount  on  account  of  B.  22  22 


Cash  for  the  balance,  amounting  to . 


$4,422  22 
177  78 


T.  Perkins  &  Co.  Boston,  advise  us  that  they  have  made  cash 
sales  of  our  consignment  to  them  of  the  5th  ultimo,  consisting 
of  Panquoqua's  Teas,  to  be  sold  for  Panquoqua's  account,  and 
that  the  net  proceeds  amount  to  20,000$ ;  to  which  amount 
we  are  directed  to  draw  on  them  at  sight. 

Bought  on  account  of  Panquoqua,  of  United  States  Bank, 
19,607  84-100  Spanish  Dollars,  at  2  per  cent,  premium, 
amounting  to  20,000$. 

Delivered  in  payment,  our  Draii  at  sight  on  T.  Perkins  &  Co. 
for  the  amount, $20,000  00 

Amount  of  our  Commission  at  £  per  cent. .  $1CO  00 

Do.         Premium  on  the  Spanish  Dollars . .     392  16 

492  16 


8 


The  Phoenix  Insurance  Company  have  paid  us  for  the  policy  re- 
ceived of  them  on  the  31st  ultimo,  for  insurance  effected  on 
our  one-third  of  shipment  to  Hamburg,  in  the  concern  of  Com 
pany  3,  which  was  burnt  to  the  water's  euge,  10  miles  east  of 

the  Capes. — Received  Cash,  amounting  to 

10 


Delivered  to  Christopher  Barnard,  in  payment  of  Walter  How 
ard's  Bill  of  Exchange  on  us  at  sight,  for  £l,500  sterling — 
$6,666  67,  as  follows — 

His  Note,  now  due,  for $2,000  00 

His  Note,  due  the  9th  of  next  August,  for.  .  .$320  00 

Allowed  him  discount  for  59  days, 315 

316  85 


$2,316  85 

900  gallons  of  Company  3  Wines,  at  $4, 3,600  00 

100  barrels  of  Company  2  Flour,  at  $7  50,  less  18 

cents, 749  82 


12 


Bought  of  Stephen  Girard,  (Banker,)  on  account  of  Panquoqua, 
Canton,  10,392  16-100  of  Spanish  Dollars,  at  1$  per  cent, 
premium,  amounting  to  $10,548  04. 

Carried  forward, 
G  73  10 


PHILADELPHIA,  JUNE  12,  1829. 


Brought  forward, 
Sold  to  him  in  payment,  15  pipes  Company  3  Wines,  2,152  gal- 
lons, at  $3  25,  amounting  to $6,994  00 

500  barrels  Company  2  Flour,  at  87, 3,500  00 

Cash  for  the  balance, 54  04 

Our  one-half  per  cent.  Commission  is $52  74 

Amount  of  Premium  on  Spanish  Dollars, 155  88 

Total, 

13 

Received  Cash  of  Stephen  Girard  for  amount  of  under-gauged 
Wine,  sold  him  on  account  of  Company  3, $75  00 

Paid  Cash  to  William  Patton,  Jr.  for  amount  of  over- 
gauged  Wine,  sold  to  him  on  account  of  Company  3,        25  00 

15 

Sold  to  A.  Van  Amringe  &  Co.  as  follows — 

252  gallons  of  Company  3  Wines,  at  $3  50, $882  00 

50  chests  of  Panquoqua's  Teas,  amounting  to 3,360  00 

Received  of  them  in  payment,  and  for  the  honor  of  Walter  How- 
ard, London,  a  Bill  of  Exchange  drawn  by  him  on  Waver- 
ing &  Co.  and  protested  for  non-payment ;  Bill  and  Pro- 
test,  $2,223  72 

Their  Order  at  sight  on  Paul  Harris,  which  we  consi- 
der in  account  for 500  00 

And  Cash  for  the  balance, 1,518  28 


toward  is  chargeable  for  our 


per  cent,  commission,  amounting  to 

16  -- 


Received  Cash  of  Captain  Whipple  for  amount  of  Freight  by  the 
schooner  Josephine,  accruing  from  her  last  trip,  amounting  to 

18 


Shipped  per  ship  Washington,  Brown,  and  consigned  by  order, 
and  for  the  account  of  Aispurua,  Homilies  &  Co.  to  their 
house  in  New-Orleans,  as  follows — 

100  chests  of  Panquoqua's  Teas,  9,600  pounds,  at 

70  cents, $6,720  00 

10  pipes  Company  3  Wines,  1,260  gallons,  at  $3,.  .   3,780  00 

Cash  paid  for  shipping  expenses, 275  00 

Our  Commission  for  shipping,  at  2|  per  cent 269  37 

Also,  shipped  on  board  the  same  vessel,  and  consigned  to  Lock- 
hart  &  Arrott,  to  be  sold  on  account  of  Panquoqua,  100  chests 
of  Panquoqua's  Teas,  amounting  to  7,200$,  on  which  we  have 
effected  insurance  at  the  Phoenix  Insurance  Office,  at  2  per 
cent,  premium,  policy  1$.  for  which  paid  in  Cash,.  .  $145  00 

Cash  paid  for  shipping  expenses, 100  00 


24500 


PHILADELPHIA,  JUNE  20,  1829. 


Sold  to  Henry  Pratt  our  Draft  at  90  days  sight,  on  Francis  H. ! 
Nicoll  &  Co.  New-York,  for  amount  of  net  proceeds  of  ou-r 
shipment  to  them  on  the  5th  ultimo,  to  be  sold  for  our  account ; 
one-half  of  which  shipment  we  sold,  on  the  19th  ultimo,  to 
Henry  Austin.  Account-sales  now  rendered,  net  proceeds 

amount  to - $1 0,800  00 

Allowed  on  the  Draft  one-quarter  per  cent,  discount,          27  00 

$10,77300 

Bought  of  Henry  Pratt  in  payment,  and  for  the  account  of  Pan- 
quoqua,  35,000  pounds  of  Ginseng,  at  25  cents  per  pound, 

amounting  to . $8,750  00 

Received  Cash  for  the  balance, 2,023  00 

10,77300 

Henry  Austin's  one-half  of  the  above  net  .proceeds  is  $5,386  50, 
for  which  delivered  to  him  the  remaining  856  gallons  of  Com- 
pany 3  Wines,  at  $3  25  per  gallon,  amounting  to  $2,782  00 

The  balance  to  account, 2,604  50 

5,38650 
20 

Panquoqua  is  chargeable  for  2£  per  cent.  Commission  on  8,750$, 
the  amount  of  Ginseng  bought  on  his  account,  this  day,  amount- 
ing to 21875 

22 

Investigated  the  account  of  Company  3  Wines,  from  which  the 
following  result  is  obtained — 

Total  sales  amount  to $24,456  75 

Do.  amount  of  charges  posted 6,520  00 

17,93675 

Our  Commission  at  5  per  cent,  on  sales, $1,222  84 

Do.  Storage,  at  25  cents  per  pipe, 15  00 

Net  proceeds  amount  to  $16,698  91,  of  which  Aispu- 

rua,  Hornillos  &  Co.'s  one-third  is 5,566  30 

William  &  James  Brown's  one-third  is 5,566  80 

$12,370  44 

Our  one-third  is $5,566  31 

Our  one-third  of  first  cost  is 3,780  00 

Our  net  gain  amounts  to 1,786  31 

14,15675 

24 

Received  Cash  of  the  Pennsylvania  Life  Insurance  Company, 
being  the  amount  of  our  four  per  cent,  dividend,  declared  on 

the  15th  instant,  for  the  last  six  months,  amounting  to 160  00 

25 

Sold  to  Henry  Austin,  at  5  per  cent,  advance,  the  shipment  of 
100  chests  of  Panquoqua's  Teas,  per  ship  Washington,  on  the 

Carried  forward, 


PHILADELPHIA,  JUNE  25,  1829. 


Brought  forward, 

18th  instant,  consigned  to  Lockhart  &  Arrott,  to  be  sold  for 
account  of  Panquoqua,  amounting  to $7,447  00 

Amount  of  5  per  cent,  advance, ; 372  35 

$7,81935 

Received  of  him  in  payment  of  H.  B.  Walker  &  Co.'s  Draft  on 
us  at  20  days  sight,  for  amount  of  net  proceeds  of  consign- 
ment of  Mahogany,  account-sales  of  which  was  rendered  to 
them,  dated  the  30th  of  April  last, .  $2,650  00 

Deduct  23  days  Discount  allowed  us, 10  15 

2,639  85 
And  his  Receipt  for  amount  of  balance  of  account,  in 

his  favor,, $2,604  50 

The  balance  to  account, 2,,^75  00  5,179  50 

7,81935 

27 

Paid  Cash  to  the  Commercial  Bank  for  our  Note  now  due  for. . .  800  00 

u 

Lent  Cash  to  John  C.  Crumpton,  for  his  Bottomry  Bond  on  the 
ship  Napoleon,  at  15  per  cent,  premium,  to  be  paid  in  full  to 
Walter  Howard,  London,  15  days  after  the  arrival  of  that  ves- 
sel in  said  port,  amounting  to $2,500  00 

Amount  of  the  Premium, ,...,. 375  00 

2,875  00 
29 

Delivered  to  J.  Harman,  Jr.  pursuant  to  Panquoqua's  order,  the 
remaining  90  chests  of  his  Teas  on  consignment,  of  which  the 

current  price  is ,....„ |         7,776  00 

cc 

Investigated  the  account  of  Panquoqua's  consignment,  the  result 
thereof  is  as  follows,  viz. 

Total  amount  of  Sales, $79,371   35 

Amount  transferred  to  J.  Harman,  Jr. . . , 7,776  00 

7,147  35 

Total  amount  of  Charges  posted, 34,385  00  |      52,762  35 

Amount  of  Storage  for  one  month  and  a  half, 40  20 

Amount  of  our  Commission  on  sales  at  5  per  cent,  and 

on  the  transferred  at  2£  per  cent 4,162  97 

Panquoqua's  net  proceeds  amount  to 48,559  18 

52,76235 

30 

Shipped  }>er  ship  Asia,  Sheed,  and  consigned  to  Panquoqua,  Can- 
ton, pursuant  to  his  order,  and  on  account  of  returns  for  his 
consignment  of  Teas,  Spanish  Dollars,  bought  at  sundry  times 
on  his  account,  amounting  to $30,000  00 


Amount  carried  forward, 
76 


30,000  00 


PHILADELPHIA,  JUNE  30,  1829. 


Brought  forward,  $30,000  00 

35,000  pounds  of  Ginseng,  bought  on  the  20th  inst., 

for  said  Panquoqua,  amounting  to 8,750  00 

Paid  shipping  expenses  in  Cash, .,.,....       200  00 


July  1 


Shipped  per  schooner  Josephine,  Foster,  and  consigned  to  H.  C. 
Perley,  New- York,  to  be  sold  for  our  account,  1,000  barrels 
of  Company  2  Flour,  at  $6  50  .per  barrel,  amounting 
to $6,500  00 

Paid  shipping  expenses  in  Cash^ 120  00 


Shipped  also  on  board  the  same  vessel,  consigned  to  T.  Perkins 
&  Co.  Boston,  to  be  sold  for  our  account,  20  tons  St.  Domingo 
Hides,  at  10  cents  per  pound,  amounting  to. $4,480  00 

Paid  expenses  in  Cash, . ,  „ , . , .         30  00 


Delivered  our  Notes  to  the  North  American,  the  Phoenix,  anc 
Atlantic  Insurance  Companies,  for  premium  of  insurance 
effected  on  the  following  amounts — 

38,950$,  amount  of  shipment  per  Asia,  Sheed,  on  account  ol 
Panquoqua,  Canton,  at  If  per  cent.,  policy  2$,  at  10 
months, $683 

6,620$,  amount  of  shipment  per  schooner  Josephine,  for 
New  York,  on  our  account,  at  £  percent,  at  four  months, 
policy  1$, 33 

4,510$,  amount  of  shipment  per  schooner  Josephine,  for 
Boston,  on  our  account,  at  £  per  cent,  at  four  months, 
policy  1$, 23 


62 


10 


55 


*anquoqua  is  chargeable  for  one-half  per  cent,  for  our  effecting 
insurance  on  38,950$,  the  amount  shipped  on  his  account  on 
the  30th  ultimo, 


deceived  from  William  &  James  Brown,  Liverpool,  advice,  that 
they  have  made  sales  of  the  1,500  bales  of  Sea-Island  Cotton, 
consigned  to  them  by  Aispurua,  Hornillos  &  Co,  from  New- 
Orleans,  on  account  of  the  concern  of  Company  3,  as  per  en- 
try of  May  1st.  Amount  of  net  proceeds  £3,420  12*.  ster- 
ling ;  our  one-third  of  which  they  have  remitted,  by  our  order, 
to  Walter  Howard  London,  amounting  to 


3aid  Cash  for  sundry  expenses  incurred  last  month,  as  per  Cash 
Book, 


$38,950 


6,620  00 


4,51000 


740 


194 


5,067  55 


500 


00 


27 


)0 


G2 


77 


PHILADELPHIA,  JULY  4,  1829. 


Investigated  the  account  of  Company  2  Mdse.,  from  which  the 
following  result  is  obtained,  viz.   1,400  barrels  of  Flour  on 
hand,  at  $6,  8,400$  :  our  two-thirds  are   

$5,600 

00 

Total  sales  amount  to  $14,599  82,  on  which  our  Commission  at 
2^  per  cent,  is  $3£5  00 

Storage  as  per  Commission  Sales  Book,  .  .  .  116  00 

13 

Henry  Austin's  one-third  of  net  proceeds,  .4,706  27 

Our  two-thirds  net  proceeds  amount  to.  .        $9,412  55 

Our         do.         first  cost,     do.     do  8,600  00 

Our  net  gain  is  -....„.  ,      .  .    .  .         812  55 

A 

5,999 

82 

18 

Balances  of  interest  due  the  following,  viz. 
To  Thos.  Blanchard,  for  6  per  cent,  on  advancement,  -and  amounts 
withdrawn,  -$800  42 

To  C.  C.  Marsh,         do.             do.             do  496  15 

The  amount  of  balance  in  favor  of  T.  Btanchard,.  

304 

9,7 

(C 

13 

Balance  of  interest  up  to  the  first  instant,  in  our  favor,  as  per 
Walter  Howard's  account  current,  

44 

69! 

(C 

13 

Store  Fixtures  on  hand,  first  cost,  .  .  ,  „  

300 

00 

tt 

13 

5,000 

00 

u 

13 

Balance  of  Cash  on  hand,  

49,926 

391 

n 

13 

Notes  on  hand,  amountincr  to.  .,..„........>.  ,    .... 

20,309 

4ft 

ti 

13 

Merchandise,  227  barrels  No.  1  Mackerel,  first  cost,  

1,248 

50 

u 

13 

Pennsylvania  Life  Insurance  Stock,  200  Shares,  first  cost,  .  . 

5,300 

00 

u 

13 

S.  H.  Lovell's  account,  balance  in  our  favor,  

395 

00 

13 

Walter  Howard's  account,  balance  in  our  favor,  . 

9,876 

86 

it 

13 

Company  2  Mdse.  1,400  barrels  of  Flour,  first  cost  of  our  two- 
thirds,  amounts  to  

5,600 

00 

a 

13 

Shipment  to  Boston,  no  returns  received,  

4,533 

55 

ft 

13 

Aispurua,  Horn.illos  &  Co.'s  account,  balance  in  our  favor,  
it 

3,911 

40 

14 

Shipment  to  New-York,  no  returns  received,  

6,653 

10 

n 

14 

Shipment  to  London,  Company  2,  no  returns  recoived,  

4,966 

19! 

78 

PHILADELPHIA,  JULY  4,  1829. 


Panquoqua's  account,  balance  in  his  favor, $11,975  78 

4  

Notes  outstanding  to  the  amount  of 38,795  82 

Paul  Harris's  account,  balance  in  his  favor, 654  87 

Henry  Austin's  account,  balance  in  his  favor, 2,131  27 

(C 

William  &  James  Brown's  account,  balance  in  their  favor, 6,612  97 

M 

Profit  and  Loss  account  must  be  debited  for  amount  of  the  fol- 
lowing balances,  being  losses, 

Discount  and  Interest, $52  68 

Store  Expenses, 1,391  56 

Shipment  to  Hamburg,  Company  3, 69  33 

Do.     do.  Charleston,  Company  2, 321  48 

1,83505 
it 

Profit  and  Loss  account  must  be  credited  for  the  amount  of  the 
following  balances,  being  gains,  &c. 

Schooner  Josephine, $1,224  00 

Rice, 353  75 

Merchandise, 1,209  89 

Dennsylvania  Life  Insurance  Stock, 160  00 

Shipment  to  New-Orleans, 197  78 

Do.     do.  Port-au-Prince, 1,890  44 

Do.     do.  Boston, 600  00 

Commission, 7,620  14 

Shipment  from  New-Orleans  to  Liverpool,  Company  3,      767  55 

Shipment  to  New- York, 1,236  62 

15,260  17 

H 

The  Profit  and  Loss  account  exhibits  an  amount  of  net  gain,  ac- 
cruing from  the  business  these  last  six  months,  of  $19,385  77, 
of  which 

Thomas  Blanchard's  one-half  is $9,692  88 

C.  C.  Marsh's  one-half  is 9,692  89 

19,38577 

The  Balance  account  of  this  date,  exhibits  the  amount  of  our 
worth  this  day,  being  $57,849  62,  of  which  Thomas  Blan- 
chard's share,  as  appears  by  his  account,  is $31,751  72 

C.  C.  Marsh's  share,  as  appears  by  his  account,  is  26,097  89 

57,84962 


79 


JOURNAL. 

B.  &M. 

1829. 


11 


PHILADELPHIA,  JANUARY  5,  1829. 


8 

Sundries         Dr.         to  Sundries. 
Cash,  $38,000  00 

5 

Bills  Receivable,    4  670  00 

- 

7 

Hardware,  3,125  00 

1 

11 

Charles  Lawrence,  140  00 

1 

To  Thomas  Blanchard,  28,000  00 

$45,9 

1 

"    Christr.  C.  Marsh,  17,935  00 

45,9 

7 

6 
1 

Sundries         Dr.         To  Bills  Payable. 
Thos.  Blanchard,  .$1,080  00 

1 

Christr.  C.  Marsh,  1,230  00 

2,3 

u 

1 
8 

Store  Fixtures         Dr. 
To  Cash  

3 

a 

11 

7 

Paul  Harris                  Dr. 
To  Hardware,  

3 

10 

5 

7 

Bills  Receivable          Dr. 
To  Hardware,  .  

5 

1° 

3 

7 

Cash,                           Dr. 

1 

i  ^ 

11 

7 

Oliver  Otis  &  Co.      Dr. 

2,0 

U. 

7 
12 

Hardware,                   Dr. 
To  Henry  Austin,  

1,5 

l  ^ 

7 
8 

Hardware,                   Dr. 
To  Cash,  

8 

1  fi 

7 
8 

Rice         Dr.         to  Sundries. 
To  Cash,  $2,000  00 

7 

"    Hardware                                     .                 1,200  00 

3,2 

7 
6 

Hardware,                   Dr. 
To  Bills  Payable,  

2,1 

12 
3 

James  Truman           Dr. 
To  Cash          

1,0 

19 

11 
5 

Sundries             Dr.         To  Oliver  Otis  &  Co. 
Bills  Receivable,  $1,000  00{ 

8 

Cash,.                                     1,000  00 

2,0 

83 


PHILADELPHIA,  JANUARY  19,  1829. 


3    Cash  Dr, 

7  To  Hardware 

21 

5  Bills  Receivable          Dr. 

11  To  Paul  Harris, 

22  — 

3    Cash  Dr. 

12  To  James  Truman, 

12  Henry  Austin  Dr. 

6  To  Bills  Payable, 

24 

7  Sundries         Dr.         To  Hardware, 

13  S.  H.  Lovell, 8250  00 

3    Cash, 16000 

7    Sundries         Dr.         To  Hardware, 
12    William  Blakely, 82CO  00 

11  Oliver  Otis  &  Co 200  QO 

28 

5  Bills  Receivable         Dr.         To  Sundries. 

3  To  Cash,.... 82,000  00 

10  "    Interest, 121   00 

6  Bills  Payable  Dr. 

3  To  Cash, 

February  2. 

6  Bills  Payable         Dr.         To  Sundries. 

7  To  Hardware, 8550  00 

3  "    Cash, 525  32 

10  "    Discount, 4  68 

.  a 

10   Store  Expenses          Dr. 
3  To  Cash, 

4 

14  Shipment  to  New-Orleans  Dr.  to  Sundries. 

7  To  Hardware, 81,722  22 

3  "    Cash, 10000 

6 

5   Bills  Receivable          Dr. 

7  To  Hardware, 

7   Hardware  Dr. 

9  To  Profit  and  Loss, 

9 

12  Sundries         Dr.         To  William  Blakely. 

3    Cash, , 8100  00 

9    Profit  and  Loss, .  .    100  00 


PHILADELPHIA,  FEBRUARY  11,  1829. 


8 

11 

5 

3 

8 

13 
6 
8 


5 
9 

5 
10 

13 
6 

6 

8 

13 
7 

13 
3 

15 


7 
5 

8 
6 

8 

5 

3 

12 

8 

3 

10 

2 

13 
9 
3 


Merchandise         Dr.         To  Sundries. 

To  Charles  Lawrence, $140  00 

"   Bills  Receivable, 1,000  00 

"    Cash, 100  00 


Merchandise         Dr.         To  Sundries. 

To  Walter  Howard, 84,888  89 

"   Bills  Payable, 1,222  22 

"    Cash, 422  00 


Sundries          Dr.         To  Sundries. 

Bills  Receivable, .$251   37 

Profit  and  Loss, 250  00 

To  Bills  Receivable, 500  00 

"    Interest, 1  37 

16 


Walter  Howard          Dr. 
To  Bills  Payable,.. 


17 


Bills  Payable  Dr. 

To  Merchandise,  . . 


20 


Walter  Howard          Dr.         To  Sundries. 

To  Rice, $1,470  00 

"   William  Evans, 1,260  00 

"  Cash, 160  15 

"   Commission, 84  14 

21 


Sundries  Dr.         To  Sundries. 

Rice, $1,530  00 

Bills  Receivable, 800  00 


To  Merchandise, $1,530  00 

"   Bills  Payable, 800  00 

23 


Sundries  Dr.  To  Merchandise, 

Bills  Receivable, $500  00 

^ash, 120  00 

ames  Truman, 1,000  00 


Sundries         Dr.         To  Merchandise. 

Cash, $1,969  00 

Discount, 31  00 

25 


Schooner  Josephine         Dr.         To  Sundries. 

To  Walter  Howard, $2,222  22 

"    Profit  and  Loss, 177  78 

«   Cash, 2,600  00 

H  85 


PHILADELPHIA,  FEBRUARY  26,  1829. 


13  William  Evans  Dr. 

12  To  James  Truman, 

^ t(  ____________________ 

2  Schooner  Josephine     Dr. 

3  To  Cash, 

, 27  

14  Shipment  to  Port-au-Prince  Dr.  To  Sundries. 

8  To  Merchandise, $1,200  00 

6  "   Bills  Payable, 2,190  00 

11  "    Charles  Lawrence, 288  00 

2  "    Schooner  Josephine, ' 230  00 

28 

Sundries         Dr.         To  Sundries. 

14    Shipment  to  Port-au-Prince, 8201  56 

2  Schooner  Josephine, 26  00 

6  To  Bills  Payable, 81  56 

3  "    Cash, 146  00 

March  2. 

8    Sundries     Dr.     To  Merchandise. 
11    Charles  Lawrence, $288  00 

11    Oliver  Otis  &  Co 500  00 

a 

10  Store  Expenses  Dr. 

3  To  Cash, 

3 

16    De  Nones'  consignment  Dr. 
3  To  Cash, 

n 

3    Cash                           Dr. 
16  To  De  Nones'  Consignment, 

4 ; ; 

16    Sundries  Dr.  to  De  Nones'  Consignment. 

11  Charles  Lawrence, $175  00 

3    Cash,    300  00 

5 

Sundries     Dr.     To  Sundries. 

3    Cash, $2,670   00 

5    Bills  Receivable, 707  35 

5  To  Bills  Receivable, 2,670  00 

11  "   Oliver  Otis  &  Co 700  00 

10  "    Interest, 7  35 

7 : 

16    De  Nones'  Consignment  Dr.  to  Sundries. 
3  To  Cash, . .  $45  00 

11  "    Charles  Lawrence, 10  00 

80 


PHILADELPHIA,  MARCH  9,  1826. 


13 

Sundries     Dr.     To  Sundries. 
S.  H.  Lovcll,  

&3Q5  00 

a 

Cash,  

250  00 

tfbf»,«r 

16 

To  De  Nones'  Consignment,  

$150  00 

•JPO'-IO 

Ull 

7 

"  Rice,  

245  00 

13 

«  S.  H.  Lovell,  

250  00 

«4.p> 

i  u  i 

6 
3 

Bills  Payable             Dr. 
To  Cash,  

4  444 

-14 

10 

16 

a 

Sundries  Dr.  to  De  Nones'  Consignment. 
Cash,  

$1,233  27 

8 

Merchandise,  

2  000  00 

3  233 

k>7 

•o  / 

a 

5 

Cash         Dr.         To  Sundries. 
To  Bills  Receivable,  

$325  00 

8 

"   Merchandise,  

525  00 

-.")( 

on 

L'U 

16 
15 

De  Nones'  Consignment  Dr.  to  Sundries. 

$215  71 

10 

"    Store  Expenses,  

52  24 

9fi7 

On 

<t 

16 
17 

De  Nones'  Consignment  Dr. 

3  531 

90 

Ifi 

17 
14 

Lockhart  &  Arrott     Dr. 
To  Shipment  to  New-Orleans,  

2  020 

00 

u 

3 
5 

Cash                                      Dr. 
To  Bills  Receivable,  

251 

QT 

1  R 

3 
11 

Cash                                       Dr. 
To  Paul  Harris,  

2  000 

00 

on 

3 
16 

Sundries     Dr.     To  Cash. 

.     $2,000  00 

11 

Paul  Harris,  

.  .  .   2,000  00 

4,000 

00 

°1 

16 
11 

Company  1  Mdse.      Dr. 
To  Paul  Harris,  

1,187 

50 

9? 

6 

Sundries     Dr.     To  Sundries. 
Bills  Payable,  

.  .  .$2,100  00 

3 

Cash 

909  10 

3000 

i  o 

16 

To  Company  1  Mdse  

.  .  .$3,000  00 

10 

"   Interest,   

9  10 

3,009 

o 

87 

PHILADELPHIA,  MARCH  24,  1829. 


1 

9, 

Christr.  C.  Marsh        Dr. 
To  Cash                

$300 

°6 

5 

Sundries     Dr.     To  Sundries. 
Bills  Receivable,  

.  .  .  $4,444  44 

• 

9 

Profit  and  Loss,  

355  56 

4QAA 

16 

To  Company  1  Mdse  

.  .  .$2,400  00 

8 

"    Cash,  

.  .  .    2,400  00 

4,800 

07 

16 
13 

Sundries     Dr.     To  Company  1  Mdse. 
William  Evans,  

$260  00 

5 

500  00 

3 

Cash,  

440  00 

1,200 

°9 

16 

8 

Sundries.     Dr.     To  Company  1  Mdse. 

$1,248  50 

8 

Cash,             

1  50 

1  250 

Qf) 

16 
15 

Company  1  Mdse.     Dr.     To  Sundries. 
To  Commission,  

$196  25 

10 

"  Store  Expenses,  

39  00 

11 

"  Paul  Harris,   

3,807  37 

9 

"  Profit  and  Loss,  

619  88 

4  662 

10 
3 

April  1. 
Store  Expenses              Dr. 
To  Cash,  

• 

462 

0 

8 
17 

Merchandise     Dr.     To  Sundries. 
To  Lockhart  &  Arrott,  

..  .$2,020  00 

8 

«    Cash,  

300  00 

2,320 

6 

16 
13 

Sundries         Dr.         To  Fisher's  Coffee. 
S.  H.  Lovell,         

$]  350  00 

11 

Oliver  Otis  &  Co. 

810  00 

2  160 

7    _ 

- 

3 
10 

Cash                           Dr. 
To  Interest,  

21 

g 

17 
16 

Irvine  Fisher               Dr. 
To  Fisher's  Coffee,  

1  440 

10 

17 

4 

Joseph  De  Nones     Dr.     To  Sundries. 
To  Cash,  

$22  00 

8 

"    Merchandise,  

40  00 

62 

88 

PHILADELPHIA,  APRIL  11,  1829. 


5 
17 

13 
4 

10 

14 

8 
16 
4 

11 
17 
4 

1 

16 
4 

4 
16 

16 
15 
10 
17 

4 
17 

7 
4 

18 
6 
5 

4 
9 
10 

Sundries     Dr.     To  Sundries. 
Bills  Receivable,  $1  350  00 

$2,700 
2,700 

3,500 
810 

543 
316 

4,680 

2,082 
2,082 

3,333 
128 

00 
00 

00 
00 

00 
80 

00 

50 
50 

33 
31 

Irvine  Fisher,  1  350  00 

To  S.  H.  Lovell,  $1  350  00 

"    Cash,  1  322  33 

"  Discount,  27  67 

l  9 

Shipment  to  Boston     Dr.     To  Sundries. 
To  Merchandise,           .    .                               $2  660  00 

"    Fisher's  Coffee,  720  00 

"   Cash,  120  00 

11 

Sundries     Dr.     To  Oliver  Otis  &  Co. 
hvine  Fisher,  $810  00 

Cash,  500  00 

1  =) 

Thos.  Blanchard     Dr.     To  Sundries. 
To  Fisher's  Coffee,  $43  20 

»   Cash,  500  00 

16 

Cash                            Dr. 
To  Fisher's  Coffee,  

a 

Fisher's  Coffee     Dr.     To  Sundries* 
To  Commission,  $117  00 

"    Store  Expenses             18  00 

"   Irvine  Fisher,  4,545  00 

IP 

Sundries          Dr.         To  Sundries. 
Cash                     8637   50 

Irvine  Fisher,  '  1,445  00 

To  Rice,  1,8;37  50 

«    Cash                          245  00 

on 

Company  2  Mdse.     Dr.     To  Sundries. 
To  Bills  Payable,  $2,033  33 

"   Bills  Receivable,        1,300  00 

01 

Sundries     Dr.     To  Cash. 
Profit  and  Loss,  $12( 

H  2                            39                                       12 

PHILADELPHIA,  APRIL  23,  1829. 


Sundries     Dr.     To  Sundries. 
6    Bills  Payable, $2,190  00 

4  Cash, 2,622  71 

5  To  Bills  Receivable, 4,444  44 

9  "    Profit  and  Loss, 365  72 

10  "    Interest, 2  55 

24 

10    Interest  Dr. 

4  To  Cash, 

27 

4    Cash,  Dr.  $141  75 

9  To  Profit  and  Loss, 1,700  00 

530  00 

28 

8    Merchandise     Dr.     To  Sundries. 

14  To  Shipment  to  Port-au-Prince, $6,000  00 

19  «   H.  B.  Walker, 2,650  00 

2  "    Schooner  Josephine, 325  00 

4  «    Cash, ' 7500 

15  "    Commission, 150  00 

29 

4    Cash  Dr. 

2  To  Schooner  Josephine, 

30 

10  Store  Expenses  Dr. 

4  To  Cash, 

May  1. 

20  Shipment  from  New-Orleans  to  Liverpool,  Co.  3,     Dr. 

19  To  Aispurua,  Hornillos  &  Co 

4 

21  Panquoqua's  Consignment  Dr.  to  Sundries. 

6  To  Bills  Payable, $28,800  00 

4  «    Cash, 5,090  00 

5 

Sundries     Dr.     To  Sundries. 

20  Shipment  to  New- York, $8,765  00 

21  Panquoqua's  Consignment, 250  00 

21  To  Panquoqua's  Consignment, $8,640  00 

4  "    Cash, 225  00 

2  «   Schooner  Josephine, 150  00 

6 

21    Sundries  Dr.  to  Panqucqua's  Consignment. 

5  Bills  Receivable, $7,200  00 

11  Paul  Harris, 3,840  00 

90 


PHILADELPHIA,  MAY  8,  1829. 


21 

18 
12 

20 
12 

7 
8 

18 

22 

18 
4 

17 

4 
10 

4 
2 
15 

4 
14 

12 

20 

18 
21 

4 
21 
12 
11 

19 
19 
21 

8 
18 
4 
15 

Sundries  Dr.  Panquoqua's  Consignment. 
Company  2  Mdse  

$4  400   00 

$5,760 

5,891 
5,891 

3,355 
3,469 

12,000 
4,100 
4,601 
12,000 

5,557 

8,200 
8,200 

00 

25 
25 

55 
32 

00 
00 
62 
00 

00 

00 
00 

Henry  Austin...  . 

1  360  00 

Sundries     Dr.     To  Sundries. 
Shipment  to  London  Company  2,  

84  966   12 

Henry  Austin,  

005  i  Q 

To  Rice,  

$1  531  °5 

"    Merchandise,  

2  160  00 

"    Company  2  Mdse  

.    2,200  00 

Shipment  to  Charleston  Co.  2,  Dr.  to  Sundries. 
To  Company  2  Mdse  

$3  333  33 

"    Cash,  

22  22 

Joseph  De  Nones'     Dr.     To  Sundries. 
To  Cash,  

.$3,417  28 

"  Discount,  

52  04 

16 

Cash     Dr.     To  Sundries. 
To  Panquoqua,  , 

$11,940  00 
60  00 

"    Commission,  

18 

Cash,                          Dr. 
To  Shipment  to  Boston,  

10 

Henry  Austin             Dr. 
To  Shipment  to  New-  York,  

on 

Company  2  Mdse.     Dr. 

00 

Cash     Dr.     To  Sundries. 

.$4,032  00 

.    1,360  00 

"   Charles  Lawrence,  

165  00 

00 

Sundries     Dr.     To  Sundries. 

.$2,733  33 

.    2,733  33 

.   2,733  34 

.    4,000  00 

"    Company  2  Mdse  

.   3,850  00 

"   Cash        .            

.       150  00 

200  00 

91 

10 


PHILADELPHIA,  MAY  25,  1829. 


12 
5 
4 

18 

19 

6 

18 
4 

5 

18 

5 

10 

4 
5 

4 

6 

21 

10 
4 


15 


18 
4 


13 

4 


Sundries     Dr.     To  Henry  Austin. 

Bills  Receivable, $4,601  62 

Cash, 925  13 

27  — 


Bills  Receivable     Dr.     To  Sundries. 

To  Company  3  Wines, $1,417  50 

"   Bills  Receivable, 707  35 

"    Interest, 37  01 

30 


Sundries     Dr.     To  Cash. 

Bills  Payable, $91  56 

Shipment  to  Hamburg  Co.  3, 69  33 


21 


Company  3  Wines     Dr.     To  Sundries. 

To  Wm.  &  Jas.  Brown, .$3,780  00 

«   Bills  Payable, , 6,000  00 

"    Company  3  Wines, 506  25 

"   Cash, 13  75 

29 


Cash,  Dr. 

To  Bills  Receivable, 


31 


Store  Expenses 
To  Cash,  . 


Dr. 


June  1 . 
Sundries     Dr.     To  Shipment  to  Charleston,  Co.  2. 

?ash, $3,011   48 

Discount, *....»...»....         22  59 


Pennsylvania  Life  Insurance  Stock     Dr. 

To  Company  3  Wines, $4,445  00 

"    Cash, 855  00 

4 


Thos.  Blanchard     Dr.     To  Sundries, 

To  Walter  Howard, $4,444  44 

«    Cash, 17778 


Sundries     Dr.     To  Sundries. 


Panquoqua, 


,$19,607  84 
492  16 


To  Panquoqua's  Consignment, $20,000  00 

"   Commission, 100  00 


8 


Cash 


Dr. 


21    '         To  Shipment  to  Hamburg  Co.  3 , 

92 


PHILADELPHIA,  JUNE  10,  1829. 


13 
10 

5 

18 
18 


4 

2 

18 

18 

4 

15 

4 

18 


13 

11 

4 

18 
21 
15 

4 
2 


19 
21 

21 

18 

4 

15 


2 

4 

10 

20 

18 
12 


Sundries     Div    To  Sundries. 

Walter  Howard, , $6,666  67 

Interest, 315 


To  Bills  Receivable, $2,320  00 

"    Company  3  Wines, 3,600  00 

"    Company  2  Mdse , 749  Q2 

12 


Sundries     Dr.     To  Sundries. 

Cash, $10,392    16 

Panquoqua, 208  62 


To  Company  3  Wines, $6,994  00 

"  Company  2  Mdse 3,500  00 

"  Cash, .  . .  , 54  04 

"  Commission, 52 

13 


Cash  Dr. 

To  Company  3  Wines, 


15 


Sundries     Dr.     To  Sundries. 

Walter  Howard, . , $2,234  84 

Paul  Harris, 500  00 

Cash, 1,518  28 

To  Company  3  Wines, $882  00 

"    Panquoqua's  Consignment, 3,360  00 

"    Commission, 11   12 

16 


Cash,  Dr. 

To  Schooner  Josephine, 


18 


Sundries     Dr.     To  Sundries. 

Aispurua,  Hornillos  &  Co $11,044  37 

Panquoqua's  Consignment, , 245  00 


To  Panquoqua's  Consignment, $6,720  00 

"  Company  3  Wines, 3,780  00 

"  Cash, 520  00 

"  Commission, 269  37 

20 


Sundries     Dr.     To  Sundries. 

Danquoqua, $8,750  00 

ash, 2,023  00 

Discount, .,..„. -        13  50 

To  Shipment  to  New-York, $5,400  00 

"    Company  3  Wines, 2,782  00 

"   Henry  Austin, 2,604  50 

93 


12 


PHILADELPHIA,  JUNE  20,  1829. 


2 
15 

18 
15 
10 
19 
19 
9 

4 
9 

19 
12 

21 
10 

6 
4 

5 
4 
9 

2 
21 

21 
10 
15 
2 

2 
4 

20 
14 

18 

8 
4 

5anquoqua                   Dr. 
To  Commissionj  

$218 

14,156 
160 

5,829 
7,829 

800 

2,875 
7,776 

52,762 
30,200 

11,130 
11,130 

75 

75 

00 

50 
50 

00 
00 
00 

35 
00 

00 
00 

00 

Company  3  Wines     Dr.     To  Sundries. 
To  Commission,  

..$1,222  84 

"    Store  Expenses,  

15  00 

"   Aispurua,  Hornillos  &  Co  

.  .  .    5,566  30 

"    Wm.  &  Jas.  Brown,  

5  566  30 

1  786  31 

°1 

Cash,                                      Dr. 
To  Pennsylvania  Life  Insurance  Stock, 
05 

Sundries     Dr.     To  Sundries. 
H.  B.  Walker,  

$2  650  00 

5  179  50 

To  Panquoqua's  Consignment,  

.     87  819  35 

10  15 

07 

Bills  Payable                           Dr. 
To  Cash,  

u 

Bills  Receivable     Dr.     To  Sundries. 
To  Cash               

$2  500  00 

"   Profit  and  Loss,    

375  00 

°9 

Panquoqua                   Dr. 
To  Panquoqua's  Consignment,  

si 

Panquoqua's  Consignment  Dr.  to  Sundries. 
To  Store  Expenses,  

$40  20 

.  .  .   4,162  97 

.  ..48,559  18 

30 

Panquoqua                   Dr. 
Tr>  Cash 

July  1. 

Sundries     Dr.     To  Sundries. 

...$6,620  00 

.  ..   4,510  00 

...$6,500  00 

.  .  .   4,480  00 

"    Cash                            

.  ..      150  00 

94 

PHILADELPHIA,  JULY  2,  1829. 


13 


6    Sundries     Dr.     To  Bills  Payable. 

2    Panquoqua, $683  62 

20    Shipment  to  New-York, 33  10 

14  Shipment  to  Boston, 23  55 

_____ __^ ___ __ _ —   **   __ __ _ ___ _____ _______ ________ 

2    Panquoqua  Dr. 

15  To  Commission, 

3   

13    Walter  Howard  Dr. 

20            To  Shipment   from   New-Orleans   to  Liverpool  Com- 
pany 3, 

(i  _  

10    Store  Expenses             Dr. 
4  To  Cash, 

4 

18  Company  2  Mdse.     Dr.     To  Sundries. 

15  To  Commission, $365  00 

10  "   Store  Expenses, 116  00 

12  "   Henry  Austin, 4,706  27 

9  "   Profit  and  Loss, 812  55 

a 

10    Interest                     Dr. 
1  To  Thomas  Blanchard, 

u     

13  Walter  Howard         Dr. 

10  To  Interest, 

___ _ ___ _____ _ — — — ——   **  _________________________ 

22  Balance  Dr. 

1  To  Store  Fixtures, 

22  Balance  Dr. 

2  To  Schooner  Josephine, 

22  Balance  Dr. 

4  To  Cash, 

22  Balance  Dr. 

5  To  Bills  Receivable, 

22  Balance  Dr. 

8  To  Merchandise, '. 

22  Balance  Dr. 

9  To  Pennsylvania  Life  Insurance  Stock, 

22  Balance  Dr. 

13  To  S.  H.  Lovell, 

22  Balance  Dr. 

13  To  Walter  Howard, 

22  Balance  Dr. 

18  To  Company  2  Mdse 

22  Balance  Dr. 

14  To  Shipment  to  Boston, 

22  Balance  Dr. 

19  To  Aiepurua,  Hornillos  &  Co 

95 


4                                  PHILADELPHIA,  JULY  4,  1829. 

22 
20 
22 
20 
2 
22 
6 
22 
11 
22 
12 
22 
19 
22 

9 
10 
10 
21 
22 

9 
2 
7 
8 
9 
14 
14 
14 
15 
20 
20 

9 
1 
1 

22 
1 
1 

Balance                         Dr. 
To  Shipment  to  New-York,  

$6,653 
4,966 
11,975 
38,795 
654 
2,131 
6,612 

1,835 

15,260 
19,385 
57,849 

10 
12 

78 
82 
87 
21 
97 

05 

17 

77 
62 

Balance                         Dr. 
To  Shipment  to  London  Company  2,  

Panquoqua                     Dr. 
To  Balance,  

Bills  Payable          _       Dr. 
To  Balance,  

Paul  Harris                   Dr. 

Henry  Austin                Dr. 
To  Balance,  

Wm.  &  Jas.  Brown     Dr. 

« 

Profit  and  Loss     Dr.     To  Sundries. 
To  Discount  and  Interest,    $52  68 

"   Store  Expenses,     .                                       1  891  56 

"    Shipment  to  Hamburg  Co.  3,  69  33 

«         «         "    Charleston  Co.  2,  321   48 

u 

Sundries     Dr.     To  Profit  and  Loss. 
Schooner  Josephine,  $1,224  00 

Rice       353  75 

Merchandise,  1,209  89 

Penna.  Life  Insurance  Stock,  160  00 

Shipment  to  New-Orleans,  197  78 

"       "  Port-au-Prince,  1,890  44 

"       "  Boston,  600  00 

Shipment  from  New-Orleans  to  Liverpool,  Co.  3,      767  55 
Shipment  to  New-  York,            1,236  62 

u 

Profit  and  Loss     Dr.     To  Sundries. 
To  Thomas  Blanchard,    ....  $9,692  88 

"    C.  C.  Marsh,  9,692  89 

(C 

Sundries     Dr.     To  Balance. 
Thomas  Blanchard,          $31,751  73 

C   C.  Marsh    26,097  89 

; 

96 


L  E  G  E  R. 

B.  &M. 
1829. 


13 


INDEX. 


A.     Austin,  Henry 12 


E.    Evans,  William ....,...,        .13 


B.     Blanchard,  Thomas 1 

Bills  Receivable 5 

Bills  Payable 6 

Blakely,  William 12 

Brown,  Wm.  &  Jas.  Liverpool. .  19 
Balance  of  July  4,  1829 22 


F. 


Fisher's  Coffee. 
Fisher,  Irvine.. 


16 
17 


C.      Cash 3,2 

Commission 15 

Co.  1  Mdse 16 

Co.  2  Mdse 18 

Co.  3  Wines..  .  18 


D.     Discount  and  Interest 10 

De  Nones'  Consignment 16 

De  Nones,  Joseph,  Cadiz 17 


H.     Hardware 

Harris,  Paul 

Howard,  Walter,  London  . 
Hornillos  &  Co..,  Aispurua, 
Havana 


7 
11 
18 

19 


99 


I.J. 


INDEX. 

N. 


K. 


O.     Oliver  Otis  &  Co. ..  .11 


L.     Lawrence,  Charles 11 

Lovell,  S.  H 13 

Lockhart  &  Arrott,  N.  Orleans  .  17 


P.    Profit  and  Loss 9 

Panquoqua's  Consignment 21 

Panquoqua,  Canton 2 

Penna.  Life  Insurance  Stock  .  9 


M.    Marsh,  C.  C 1 

Merchandise  .  „  8 


Q. 


100 


R.    Rice, 


INDEX. 
.  7     V. 


S. 


Store  Fixtures 

Store  Expenses , 

Schooner  Josephine 

Shipment  to  Port-au-Prince . 
Shipment  to  New-Orleans . , 
Shipment  to  Boston 


1 
10 

2 

14 
14 
14 


Continued  at  X. 


W.     Walker  &  Co.  H.  B.  Port-au- 
Prince .19 


T.    Truman  James  .  .  12 


U. 


(X.)     S.  Continued. 

Shipment    from   New-Orleans  to 

Liverpool,  Co.  3 20 

Shipment  to  New- York 20 

Shipment  to  London,  Co.  2 20 

Shipment  to  Charleston,  Co.  2 ...  22 
Shipment  to  Hamburg,  Co.  3 21 


Y,  Z. 


101 


12 


DR. 


THOMAS 


1829. 
January 
April 
June 
July 

5 
15 

3 
4 

To  Bills  Payable  

1 
7 
10 
14 

$1,080 
543 
4,622 
31,751 

00 
20 
22 
73 

"  Sundries  

«         ii 

«   To  Balance  

37,997 

15 

DR. 


CHRISTR.  C. 


1829. 

January 

5 

To  Bills  Payable  

1 

$1  230 

00 

March 

£4 

"   Cash   

6 

300 

00 

July 

4 

14 

26  097 

^9 

.uijr 

• 

27,627 

89 

DR. 


STORE 


To  Cash 


102 


8300  00 


BLANCHARD 


CK. 


1829. 
January 
July 

M 

5 

4 
u 

By  Sundries  

1 
13 
14 

$28,000 
304 
9,692 

00 

27 
88 

"  Interest  

"  Profit  and  Loss  

37,997 

15 

- 

MARSH 


CR. 


1829. 
January 
July 

5 
4 

By  Sundries  

1 
14 

$17,935 
9,692 

00 

89 

"   Profit  and  Loss  

i  .  .  •  i  i        •—      ..   »i    ii 

27,627 

89 

FIXTURES 


CR. 


1829. 
July 

4 

By  Balance  

1 

$300 

00 

'*"/ 

• 

103 


DR. 


SCHOONER 


1829. 

February 
u 

u 

July 

25 
26 

28 
4 

To  Sundries  

3 
4 
4 
14 

85,000 
155 
26 
1,224 

00 
00 
00 
00 

«  Cash  

"  Sundries  

"  Profit  and  Loss  

wi^. 

6,405 

00 

DR.                                                               PANQUOQUA. 

1829. 
June 
a 

« 
cc 

cc 
<i 

July 
u 

<c 

• 

5 

12 
20 

u 

29 
30 
2 
cc 

4 
cc 

To  Sundries  

10 
U 
11 
11 
12 
12 
13 
13 

14 

$492 
208 
8,750 
218 
7,776 
30,200 
683 
194 

16 

62 
00 
75 
00 
00 
62 
25 

<C                CC 

CC               It 

"  Commission    

"  Panquoqua's  -Consignment  

«   Cash  

"  Bills  Payable  

"  Commission  

Amount  

48,523 
11,975 

40 

78 

"  Balance  f  

60,499 

18 

104 


JOSEPHINE 


CR. 


1829. 

February 
April 

u 

May 
June 
July 

27 
28 
29 
5 
16 
4 

By  Shipment  to  Port-au-Prince  

4 

8 
8 
8 
11 
13 

8230 
325 
500 
150 
200 
5,000 

00 
00 
00 
00 
00 
00 

00 

"  Merchandise  . 

"   Cash  

"  Sundries  

"   Cash  

"  Balance  

6,405 

CR. 


1829. 
May 
June 


16 
29 


'By  Cash 

"  Panquoqua's  Consignment 


105 


DR. 


CASH 


5  To  Sundries 1 

12  "  Hardware 1 

19  "  Oliver  Otis  &  Co 1 

"        «  Hardware 2 

22  "  James  Truman 2 

24       "  Hardware 2 

February       9       "  William  Blakely 2 

23  "  Merchandise 3 

«       «       «  ; 3 

3       "  De  Nones'  Consignment 4 

«  «  «  4 

5       "  Sundries 4 

9       "         "        5 

10  "  De  Nones'  Consignment •  •  5 

11  "  Sundries 5 

16       "  Bills  Receivable 5 

18       "  Paul  Harris 5 

23       "  Sundries .., 5 

27  "  Company  1   6 

28  "  6 

30  Amount 

7     To  Interest 6 


106 


CR. 


1829. 
January 
u 
ci 

« 
M 
M 

February 
li 
« 
M 

M 
II 

« 
M 

(( 

March 

u 
(( 
(( 

(C 

(( 

u 

April 
si 

(C 

7 
15 
16 
17 

28 
30 
2 

M 

4 
11 
13 
20 
25 
26 
28 
2 
3 
7 
9 
20 
24 
26 

1 
2 
10 

By  Store  Fixtures  

1 
1 
1 
1 
2 
2 
2 
2 
2 
3 
3 
3 
3 
4 
4 
4 
4 
4 
5 
5 
6 
6 

6 
6 

$300 
800 
2,000 
1,000 
2,000 
1/J30 
525 
65 
100 
100 
422 
160 
2,600 
155 
146 
45 
460 
45 
4,444 
4,COO 
300 
2,400 

(K) 
00 
00 
00 
00 

3-J 

00 
00 
00 
00 
15 
00 
00 
00 
00 
00 
00 
14 
00 
00 
00 

"   Hardware  

"   Rice  

"   James  Truman  

"   Bills  Receivable  

"  Bills  Payable  

It          11                    11 

"   Store  Expenses  

"   Shipment  to  New-Orleans  

"   Merchandise  

it                      U 

"   Walter  Howard  

"   Schooner  Josephine  

a         u               it 

"   Sundries  

"   Store  Expenses  

"   De  Nones'  Consignment  

tl                It                                       U 

"   Bills  Payable  

"   Sundries  

"  Christr.  C.  Marsh  

23,297 
462 
300 
28,046 

91 
00 
00 
33 

52,106 

J4 

107 


DH, 


CASH 


1829. 

kpril 
u 
a 
(i 
it 

(C 

<( 

Kay 

I* 
M 
(t 
If 

rune 
it 
u 
<( 
« 
u 
(i 
« 
« 

uly 

10 
14 
16 
18 
23 
27 
29 
16 
18 
22 
25 
30 
1 
5 
8 
12 
13 
15 
16 
20 
24 

4 

3 
7 
7 
7 
8 
8 
8 
9 
9 
9 
9 
10 
10 
10 
10 
11 
11 
11 
11 
11 
12 

$28,046 
500 
316 
637 
2,622 
2,371 
500 
12,000 
4,100 
5,557 
925 
500 
3,011 
19,607 
2,733 
10,392 
50 
1,518 
200 
2,023 
160 

33 
00 
80 
50 
71 
75 
00 
00 
00 
00 
13 
00 
48 
84 
34 
16 
00 
28 
00 
00 
00 

To  Oliver  Otis  &  Co  

"   Fisher's  Coffee   

"   Sundries  i  

«             u 

"   Profit  and  Loss. 

"    Schooner  Josephine  

"   Shipment  to  Boston,  

"    Sundries.                     

"   Bills  Receivable  

"   Shipment  to  Charleston,  Co.  2  

"    Sundries  

"    Sundries  '  

"    Company  3  Wines   

"   Sundries                

"   Schooner  Josephine    

"   Penna.  Life  Insurance  Stock  

Amount  

97,773 

32 

^^ 

97,773 

32 

• 

108 


CR, 


1829. 

April 

tt 
it 

it 

tt 
tt 
May 

u 
II 

(C 

tt 
It 
tl 
tt 

June 

M 

(C 

(C 

u 

M 

July 
u 

10 
11 
13 
15 

18 
21 
24 
28 
29 
4 
5 
12 
14 
23 
27 
31 

u 

3 
4 
12 

18 
27 

" 

30 
1 
3 

4 

u 

By  Joseph  De  Nones  

6 
7 
7 
7 
7 
7 
8 
8 
8 
8 
8 
9 
9 
9 
10 
10 
10 
10 
10 
11 
11 
12 
12 
12 
12 
13 

13 

$22 
1,322 
120 
500 
245 
128 
8 
75 
200 
5,090 
225 
22 
3,417 
150 
13 
150 
400 
855 
177 
54 
520 
800 
2,500 
30,200 
150 
500 

00 
33 
00 
00 
00 
31 
40 
00 
00 
00 
00 
22 
28 
00 
75 
89 
00 
00 
78 
04 
00 
00 
00 
00 
00 
00 

"   Sundries  

"    Shipment  to  Boston  

"    Thos.  Blanchard  

"    Sundries  

a         it 

"   Interest                              

"    Panquoqua's  Consignment      

"    Shipment  to  Charleston,  Co.  2     

"   Joseph  De  Nones  

"    Company  3  Wines  

"    Penna.  Life  Insurance  Stock  

"   Thos.  Blanchard          

tt       tt             it 

it       it             it 

"   Bills  Payable           

"   Bills  Receivable  

47,847 
49,926 

00 
32 

49,926 

32 

' 

K 


109 


DR. 


BILLS 


1829. 

January 
u 

u 
u 
II 

February 
(< 

u 
(I 

March 

a 

it 

u 

April 

May 
u 

it 

June 
July 

5 

10 
19 
21 
28 
6 
13 
21 
23 
5 
26 
27 

30 
11 
6 
25 
29 
27 

4 

1 
1 
1 

2 
2 
2 
3 
3 
3 
4 
6 
6 

7 
8 
9 
10 
12 

$4,670 
500 
1,000 
325 
2,121 
320 
251 
800 
500 
707 
4,444 
500 

00 
00 
00 
00 
00 
00 
37 
00 
00 
35 
44 
00 

'  "   Oliver  Otis  <fe  Co  

"    Paul  Harris  

"    Sundries  . 

"   Hardware  

"   Sundries  

a         a 

"   Merchandise  

u            u 

"    Company  1  ,  

Amount  

16,139 
1,350 
7,200 
4,601 
2,161 
2,875 

16 
00 

00 
62 
86 
00 

To  Sundries  

*'   Panquoqua's  Consignment  

f<   Sundries  

u            a 

34,327 

64 

RECEIVABLE 


CR. 


1829. 
February 


11 

13 
5 
11 
16 
20 
23 
29 
30 
10 


By  Merchandise. 
"    Sundries . . 


"  Cash 


"  Company  2  Mdse 

"  Sundries 

"  Bills  Receivable 

"  Cash 

"  Sundries 

Amount 
By  Balance 


111 


6                    DR.                                                                              BILLS 

1829. 

January 

February 
a 

March 
(t 

u 

April 
May 
June 

July 

M 

30 
2 
17 
9 
23 

30 
23 
31 
27 

4 
«( 

To  Cash            

2 
2 
3 
5 
5 

8 
10 
12 

14 

$1,230 
1,080 
1,500 
4,444 
2,100 

00 
00 
00 
44 

00 

"   Cash                  w  .  .  . 

10,354 
2,190 

81 
800 

44 
00 
56 
00 

"  Cash  .                

it         a                             

13,426 
38,795 

00 

82 

82 

- 

52,221 

112 

' 

PAYABLE 


CH. 


N 

February 


5 

1 

$2  310 

00 

16 

1 

2  100 

00 

22 

"   Henry  Austin  

2 

1  500 

00 

13 

3 

1  222 

99 

16 

"   Walter  Howard  .  

3 

i,xixi,xi 

4  444 

41 

21 

3 

800 

00 

27 

"  Shipment  to  Port-au-Prince  

4 

2  190 

00 

28 

4 

81 

56 

30 

Amount  

14  648 

99 

2Q 

By  Company  2  Mdse  

7 

2  033 

33 

8 

28  800 

00 

97 

10 

6  000 

00 

12 

740 

97 

52  221 

«9 

• 

113 


15 


HARDWARE 


To  Sundries. 

Henry  Austin 
«  Cash 

Bills  Payable, 
"  Profit  and  Loss 


DR. 


RICE 


1829. 

January 

February 

July 


16 

21 

4 


To  Sundries 

u  « 

"  Profit  and  Loss. 


1 

3 

14 


53,200 

1,530 

353 


5,083 


75 


114 


CH, 


-    1829. 
January 

M 
M 

(( 
(« 

u 
u 

(C 

February 
a 
n 

8 
10 
12 
13 
16 
19 
24 
26 
2 
4 
6 

By  Paul  Harris,  ....    .          ,....,.. 

1 
1 
1 
1 
1 
2 
2 
2 
2 
2 
2 

$325 
500 
125 
2,000 
1,200 
250 
410 
400 
550 
1,722 
320 

00 
00 
00 
00 
00 
00 
00 
00 
00 
22 
00 

22 

"   Bills  Receivable  

"  Cash  .            

"   Oliver  Otis  &  Co  

«   Rice    

"   Cash               

a         a 

"   Bills  Payable    ".  

7,802 

CB. 

1829. 
February 
March 
April 
May 

20 
9 
18 
11 

3 
5 

7 
9 

($1,470 
245 
1,837 
1,531 

00 
00 
50 
25 

«         «             

• 

5,083 

75 

115 


DR. 


MERCHANDISE 


"   De  Nones'  Consignment 
Company  1  Mdse 
Sundries 


CR. 


1829. 

February 
<( 

M 

(( 
N 

March 
t( 

ft 

April 

a 

May 

M 

July 

M 

(4 

17 
21 
23 

t( 

27 
2 
11 

30 
10 
13 
11 
23 
1 

4 
« 

By  Bills  Payable,  

3 
3 
3 
1 

4 
4 
5 

6 
7 
9 
9 
12 

13 

$1,500 
1,530 
1,620 
2,000 
1,200 
788 
525 

00 
00 
00 
00 
00 
00 
00 

"   Sundries  

tl                  U 

it           « 

"  Cash             .  ,  ,  ,  

9,103 
40 
2,660 
2,160 
4,000 
4,480 

00 
00 
00 
00 
00 
00 

it         n                                             .... 

«         «                                

22,503 

1,248 

00 
50 

23,751 

50 

117 


DR. 


PROFIT  AND 


9 

13 
26 
21 

4 


To  William  Blakely 

"  Sundries 
a  n 

"  Cash.  .  . 
"  Sundries 
"  Sundries 


$100 
250 


35556 


120 
1,835 
19,38577 


22,046 


00 
00 


38 


DR. 


PENNSYLVANIA 


3  To  Sundries 

4  "   Profit  and  Loss., 


10 
14 


85,300 
160 

5,460 


118 


LOSS 


CK. 


1829. 

February 

M 

March 

April 
u 

June 

M 

July 

M 

({ 

6 
25 
30 
23 
27 
22 
27 
4 
« 
« 

By  Hardware  

2 
3 
6 
8 
8 
12 
12 
13 

14 

$277 
177 
619 
365 
2,371 
1,786 
375 
812 

22 
78 
88 
72 
75 
31 
00 
55 

"   Cash                

"   Company  3  Wines  

"   Bills  Receivable  

"   Company  2  Mdse  

6,786 
15,260 

21 
17 

22,046 

38 

LIFE  INSURANCE  STOCK                                         CR. 

1829. 
June 
July 

24 
4 

By  Cash  

12 
13 

$160 
5,300 

00 
00 

"  Balance  

5,460 

00 

* 

" 

119 


10 


DR. 


DISCOUNT 


23 
21 
24 

1 

10 
20 

4 


To  Merchandise 

"  Cash .., 

u  cc 

"   Shipment  to  Charleston,  Co 
"   Sundries 

u         it 

"  Thos.  Blanchard  . 


3 
7 
8 

10 
11 

C( 

13 


DR. 


STORE 


1829. 
February 

2 

To  Cash  

2 

$65 

00 

March 

2 

((                U 

4 

45 

00 

Aoril 

1 

((               CC 

6 

462 

00 

u 

30 

cc           cc 

8 

200 

00 

May 

31 

cc           cc 

10 

400 

00 

July 

3 

cc           cc 

13 

500 

00 

1,672 

00 

' 

120 


AND  INTEREST 


CK. 


10 


1829. 
January 
February 

(C 

March 

(C 

April 


28  By  Bills  Receivable 2 

4  "     "     Payable 2 

13  "   Sundries 3 

5  "         "          4 

23       "         "          5 

7       "  Cash 6 

11       «   Sundries 7 

23       «         «          8 

14  "   Joseph  De  Nones 9 

29  "  Bills  Receivable 10 

25       "   Sundries 12 

4       "   Walter  Howard 13 

"       "   Profit  and  Loss 14 

EXPENSES  CR 

14     By  De  Nones'  Consignment 5 

30  "   Company  1 6 

16       "   Fisher's  Coffee 7 

22       "   Company  3  Wines 12 

29       "    Panquoqua's  Consignment 12 

4       "   Company  2  Mdse 13 

"       "   Profit  and  Loss 


121 


11 


DR. 


CHARLES 


1829. 

January 
March 
u 

5 

2 
4 

To  Sundries  

1 

4 
.  4 

$140 

288 
175 

00 
00 
00 

"  Merchandise  

"  De  Nones'  Consignment  

603 

00 

DR. 


PAUL 


1829. 
January 
March 
May 
June 
July 

8 
20 
6 
15 
4 

1 

5 
8 
11 
14 

$325 
2,000 
3,840 
500 
654 

00 
00 
00 
00 

87 

87 

«  Cash  

"  Panquoqua's  Consignment  

"   Sundries  <  

"  Balance  

7,319 

DR. 


OLIVER 


1829. 

January 

u 

March 
April 

13 
26 
2 
10 

To  Hardware  

1 
2 
4 
6 

82,000 
200 
500 
810 

00 
00 
00 
00 

t(        (( 

«            u 

"  Fisher's  Coffee  

3,510 

00 

122 


LAWRENCE                                                                  CR.                  li 

1829. 
February 

March 
May 

11 

27 
7 
22 

By  Merchandise     

3 
4 
4 
9 

$140 
288 
10 
165 

00 
00 
00 
00 

"   Shipment  to  Port-au-Prince  

"   De  Nones'  Consignment  

"   Cash  

603 

00 

HARRIS                                                                        CR. 

1829. 
January 

March 
a 

21 

18 
21 
30 

By  Bills  Receivable  

2 
5 
5 
6 

$325 
2,000 
1,187 
3,807 

00 
00 
50 
37 

"  Cash  \  

"  Company  1  Merchandise  

~ 

7,319 

87 

OTIS  &  CO.                                                                   CR. 

1829. 
January 
March 
April 

19 
5 
14 

1 

4 

7 

$2,000 
700 
810 

00 
00 
00 

(C               (( 

3,510 

00 

123 

1 

12 


DR. 


HENRY 


1829. 
tanuary 
Vfay 
ti 

it 

fane 
Fuly 

22 
8 
11 
19 
25 
4 

To  Bills  Payable  

2 
8 
9 
9 
12 
14 

$1,500 
1,360 
925 
4,601 
5,179 
2,131 

00 
00 
13 
62 
50 
27 

"  Panquoqua's  Consignment  

"  Sundries  

"  Shipment  to  New-York  

"  Sundries  

«  Balance  

15,697 

52 

DR 


JAMES 


1829. 
January 

17 

To  Cash  

1 

$1,000 

00 

February 

93 

"   Merchandise  

3 

1,000 

00 

2,000 

00 

DR. 


WILLIAM 


26 


To  Hardware, 


124 


00 


AUSTIN 


CR, 


12 


1829. 

January       14     By  Hardware 1  $1,500  00 

May             22       "Cash 9  1,36000 

"            25       "Sundries 10  5,52675 

June             20       "         " 11  2,604  50 

July               4       "    Company  2  Mdse 13  4,70627 

15,69752 

TRUMAN  CR. 

1829. 

January       22      By  Cash 2  $1,000  00 

February     26       "   William  Evans 4  1,000  00 


2,000 


00 


BLAKELY 


CR. 


1829. 
February 


By  Sundries 


L2 


125 


$20000 


13                  DR.                                                                                   S.  H. 

1829. 

January 
March 
April 

24 
9 
6 

To  Hardware  

2 
5 
6 

$250 
395 
1,350 

00 
00 
00 

"   Sundries  

"   Fisher's  Coffee  ...'..  v  ... 

2,995 

00 

; 

DR.                                                                      WALTER 

1829. 

February 

n 

June 
it 

July 

« 

16 
20 
10 
15 
3 
4 

To  Bills  Payable  

3 
3 
11 
11 
13 
13 

$4,444 
2,974 
6,666 
2,234 
5,067 
44 

44 
29 

67 
84 
55 
62 

41 

"   Sundries  

a            c« 

(t         u 

"  Shipment  fm.  N.  Orleans  to  Liverpool,  Co.  3 
«  Interest  

21,432 

DR.                                                                     WILLIAM 

• 

1829. 
February 
March 

26 

27 

To  James  Truman  ^.  

4 
6 

$1,000 
260 

00 
00 

"   Company  1  ..    ....   

1,260 

00 

• 
126 

1 

• 

LOVELL 


CR. 


13 


1829. 
March 
April 
July 

9 
11 
4 

5 

7 
13 

8250 
1,350 
395 

00 
00 
00 

U                 it 

"  Balance  

2,995 

00 

HOWARD                                                                        CR. 

1829. 
February 
« 

June 

July 

13 
25 
3 
4 

By  Merchandise  

3 
3 
10 
13 

$4,888 
2,222 
4,444 
9,876 

89 
22 
44 

86 

41 

"   Thos.  Blanchard  

"   Balance     

21,432 

EVANS                                                                            CR. 

1829. 
February 

20 

By  Walter  Howard  •  

3 

81,260 

. 

00 

1,260 

127 


14 


DR. 


SHIPMENT  TO 


1829. 

February 
July 

4 
4 

To  Sundries  

2 
14 

1 

$1,822 
197 

22 

78 

2,020 

00 

/ 

DR. 


SHIPMENT  TO 


1829. 
February 

9,7 

To  Sundries  

4 

$3,908 

00 

(« 

?R 

<t         « 

4 

201 

50 

July 

4 

"   Profit  and  Loss  

14 

1,890 

44 

r"V 

6,000 

00 

DR. 


SHIPMENT 


1829. 
April 
July 

13 
1 
2 
4 

To  Sundries  

7 
12 
13 
14 

$3,500 
4,510 
23 
600 

00 
00 
55 
00 

55 

<(         u 

"   Bills  Receivable  

"   Profit  and  Loss  

8,633 

128 


NEW-ORLEANS 


CK. 


14 


1829. 
March 

16 

By  LocKnart  &  Arrott  

5 

$2,020 

00 

• 

2,020 

00 

PORT-AU-PRINCE 


CR. 


1829. 
April 


28 


By  Merchandise 


$6,000 


6,000 


00 


00 


TO  BOSTON 


CR. 


1829. 
May 
July 


18 
4 


By  Cash . . , 
"   Balance 


9 
13 


£4,10000 
4,53355 


8,6C355 


129 


17 


COMMISSION 


130 


CR. 


1829. 

February 

March 
u 

April 

M 

May 

M 

June 
« 

u 

M 
M 

(( 
« 

July 

cc 

(C 

20 
14 
30 
16 
28 
16 
23 
5 
12 
15 
18 
20 
22 
29 
2 
4 
<( 

By  Walter  Howard  

3 
5 
6 
7 
8 
9 
9 
10 
11 
11 
11 
11 
12 
12 
13 
13 

$84 
215 
196 
117 
150 
60 
200 
100 
52 
11 
269 
218 
1,222 
4,162 
194 
365 

14 
71 
25 

00 
00 
00 
00 
00 
74 
12 

:n 

7f> 

84 
97 
25 
00 

"   De  Nones'  Consignment  

"   Fisher's  CoFee     

«  Cash  

n         ti 

u         n 

cc         « 

cc           cc                                                         

"   Company  3  Wines  

7,620 

14 

t 

0 

131 


16 


DR. 


DE  NONES' 


1829. 

March 
a 

n 
u 

3 
7 
14 
14 

To  Cash   

4 
4 
5 
5 

8460 
55 
267 
3,531 

00 
00 
95 
32 

27 

a         a 

"   Joseph  De  Nones  

4,314 

DK. 


COMPANY  1 


1829. 
larch 

90 

To  Cash  

5 

$2,000 

00 

tt 

21 

"   Paul  Harris,  

5 

1,187 

50 

cc 

30 

6 

4,662 

50 

7,850 

00 

FISHER'S 


132 


CONSIGNMENT 


CR. 


16 


1829. 

March 
(( 

u 
(4 

3 
4 
9 
10 

By  Cash  

4 
4 
5 
5 

$450 
475 
150 
3,233 

00 
00 
00 
27 

u            u 

u           « 

4,314 

,7 

MDSE.                                                                                CR. 

1829. 
March 

(C 

M 

« 

23 

26 
27 

28 

By  Sundries  

5 
6 
6 
G 

$3,OOC 
2,400 
1,200 
1,250 

00 
00 
00 
00 

a         a 

n         u 

u           « 

7,850 

00 

- 

COFFEE                                                                         CR. 

1829. 
April 

M 

U 

{( 
« 

6 
8 
13 
15 
16 

By  Sundries  

6 
6 

7 
7 
7 

$2,160 
1,440 
720 
34 
316 

00 
00 
00 
20 

80 

"  Irvine  Fisher  

"   Shipment  to  Boston,  

"   Thos.  Blanchard  

"   Cash  

4,680 

00 

M                          i  as 

17 


DR. 


JOSEPH 


1829. 
April 
May 

10 
14 

6 
9 

$62 
3,469 

00 
32 

32 

u            « 

3,531 

DR. 


LOCKHART 


1829. 
Mai-ch 

16 

To  Shipment  to  New-Orleans  

5 

$2,020 

00 

DR. 


IRVINE 


1829. 

April 
t( 

« 

«( 

8 
11 
14 

18 

To  Fisher's  Coffee  

6 

7 
7 

7 

81,440 
1,350 
310 
1,445 

00 
00 
00 
00 

"   Oliver  Otis  &  Co  

4,545 

00 

134 


DE  NONES 


CR. 


17 


1829. 

March 

14 

By  De  Nones'  Consignment  

5 

$3,531 

32 

&  ARROTT 


CB. 


1829. 
A.pril 

2 

6 

$2,020 

00 

» 
• 

FISHER 


$4,54500 


18 


DR. 


COMPANY 


20 
8 

20 
4 


To  Sundries , 

"  Panquoqua's  Consignment , 


cc  ,  " 

"  Sundries 


7 

8 

9 

13 


83,33333 
4,400  00 


12,000 
5,999 


25,73315 


COMPANY  3 


MDSE. 


CR, 


18 


1829. 

May 

« 

M 

June 

M 

July 
<( 

11 
12 
23 
10 
12 
1 
4 

By  Sundries  

9 

1) 

g 

11 
11 

12 
13 

82,200 
3,333 
3,850 
749 
3,500 
6,500 
5,600 

00 
33 
00 

82 
00 
00 
00 

"   Shipment  to  Charleston,  Co.  2  

"   Sundries  

(C                   (C 

a            u 

U                (C 

"  Balance  

25,733 

ir> 

. 

WINES 


CR. 


1829. 

May 
« 

June 
« 

M 

it 
« 
M 
II 

27 
29 
3 
10 
12 
13 
15 
18 
20 

By  Company'3  Wines  ,  

10 
10 
10 

11 
11 
11 
11 
11 
11 

$506 
1,417 
.  4,445 
3,600 
6,994 
5 
882 
-   3,780 
2,782 

L>3 

50 

00 
00 
00 
00 
00 
00 
00 

"   Bills  Receivable  

"   Penna.  Life  Insurance  Stock  

it             U                 U                         11                     It 

tt             «                 11                         «                     « 

"    Cash    

"    Sundries   »    .    

u            u 

n         tt 

24,456 

7f> 

' 

137 


18 


19 


DR. 


H.  B. 


1829. 
June 

25 

To  Sundries  

12 

$2,650 

00 

DR.                                                                     AISPURUA, 

1829. 
May 
June 

23 

18 

To  Sundries  

9 
11 

$2,733 
11,044 

33 
37 

U                 tl 

13,777 

70 

- 

DR.                                                         WILLIAM  &  JAS. 

1829. 
May 
July 

23 
4 

To  Sundries  

9 
14 

$2,733 
6,612 

33 

97 

11  Balance    -.  

9,346 

30 

138 


, 

'v 


WALKER  &  CO. 


CR. 


19 


1829. 
April 

28 

By  Merchandise  

8 

$2,650 

00 

HORNILLOS  <fo  CO. 


CR. 


1829. 

May 

1 

By  Shipment  fm.  N.  Orleans  to  Liverpool,  Co.  3 

8 

$4,300 

00 

June 

9,9, 

11   Company  3  Wines  

12 

5,566 

30 

July 

4 

"  Balance  

13 

3,911 

40 

; 

13,777 

70 

BROWN 


CR. 


1829. 
May 
June 

27 
22 

By  Company  3  Wines  

10 
12 

$3,780 
5,566 

00 
30 

((                 U 

9,346 

139 


\ 

20                  DR.                                  SHIPMENT  FROM  N.  ORLEANS 

1829. 

May 

1 

To  Aispurua,  Hornillos  &  Co  

8 

$4,300 

on 

July 

4 

"   Profit  and  Loss  

14 

767 

55 

5,067 

55 

DR.                                                              SHIPMENT  TO 

1829. 

May 

5 

To  Sundries  

8 

$8,765 

00 

July 

1 

<(         a 

12 

6  620 

00 

it 

2 

11   Bills  Payable  

12 

33 

10 

u 

4 

"   Profit  and  Loss  

14 

]  236 

62 

16,654 

72 

- 

DR.                                                              SHIPMENT  TO 

X 

1829. 

May 

11 

To  Sundries  

9 

$4,966 

19, 

T*"v 

• 

1    - 

- 

140 

TO  LIVERPOOL,  CO.  3 


CE. 


20 


1829: 

July 

20 

By  Walter  Howard  

13 

$5,067 

55 

5,067 

55 

NEW  YORK                                                                     CB. 

1829. 

May 

19 

9 

$4  601 

62 

June 

20 

"   Sundries  

11 

5,400 

00 

July 

4 

"   Balance  

13 

6  653 

10 

16,654 

K 

LONDON,  CO. 


CR. 


1829. 

July 

4 

By  Balance  

13 

84,966 

12 

141 


PANQUOQUA'S 


DR. 


SHIPMENT  TO 


1829. 
May 

93 

To  Sundries  

9 

$2  733 

31 

u 

31 

"  Cash  e  .  . 

10 

fiQ 

33 

2,802 

67 

«• 

142 


CONSIGNMENT 


CR. 


1829. 

May 
« 

it 

u 
H 

June 

M 

ll 
U 

(( 

5 
6 
8 
20 
21 
5 
15 
18 
25 
29 

By  Sundries  

s 
8 
8 
9 
9 
10 
11 
11 
12 
12 

$8,640 
11,040 
5,760 
13,000 
4,032 
20,000 
3,360 
6,720 
7,819 
7,776 

00 
00 
00 
00 
00 
00 
00 
00 
35 
00 

u            u 

U                   it 

"   Company  2  Mdse  

"    Cash  

**   Sundries  

(C                   (( 

((                 <C 

((            « 

"   Panquoqua  

87,147 

35 

HAMBURG,  Co.  3 


CR. 


1829. 
une 
Fuly 

8 
4 

By  Cash'  >  

10 
14 

$2,733 
69 

34 
33 

"   Profit  and  Loss   

2,802 

67 

' 

143 


22 


DR. 


SHIPMENT  TO 


1829. 
May 

12 

To  Sundries      .    .    .    ...    .    

9 

$3,355 

35 

- 

DH.                                                                       BALANCE 

1829. 

July 
« 

« 
« 
u 
« 
it 

(C 

M 

u 
« 
u 

« 

4 
u 

M 
U 

U 

« 

(C 

(( 
(( 

(C 
M 
M 

(C 

To  Store  Fixtures  

13 
13 
13 
13 
13 
13 
13 
13 
13 
13 
13 
13 
13 

$300 
5,000 
49,926 
20,309 
1,248 
5,300 
395 
9,876 
5,600 
4,533 
3,911 
6,653 
4,966 

00 
00 
32 
48 
50 
00 
00 
86 
00 
55 
40 
10 
12 

"   Cash   

"   Bills  Receivable  ,  

"   Penna.  Life  Insurance  Stock  

"   S.  H.  Lovell  ~.  

"   Walter  Howard  

"   Company  2  Mdse  

"   Aispurua,  Hornillos  &  Co  

"   Shipment  to  New-  York  

«        «         «  London,  Co.  2  

118,020 

33 

144 


CHARLESTON,  CO. 


CR. 


22 


1829. 
June 
July 

1 
4 

By  Sundries  

10 
14 

$3,034 
321 

07 
14 

"   Profit  and  Loss  

3,355 

55 

JULY  4ra,  1829 


CR. 


4      By  Panquoqua 

"  !    "   Bills  Payable, 

"   Paul  Harris, 

"   Henry  Austin 

"   Wm.  &  James  Brown 

"   Sundries 


145 


19 


14 
14 
14 
14 
14 
14 


$11,97578 

38,795 

654 

2,131 

6,612 

57,849  62 


118,020 


33 


CASH-BOOK 

B.&M. 
1829. 


DR. 


CASH 


1829. 
January 


February 


(4 

12 

19 

u 

22 
24 


1 

9 

23 

(C 


To  Blanchard  &  Marsh,  deposited  in  Bank  of  North 

America 

"         "  "  "          in  U.  S.  Bank.  .  . 

"    Hardware,  rec'd  of  S.  H.  Lovell 

"    Oliver  Otis  &  Co.  rec'd  on  acct 

"    Hardware,  rec'd  of  sundry  persons 

"    James  Truman,  rec'd  on  acct 

"   Hardware,  received  of  sundry  persons 


To  amount  in  Banks,  &c • 

"   William  Blakely,  rec'd  of  him  in  full 

"   Merchandise,  rec'd  of  James  Truman 

"  «  "      on   T.    &  A.  Vmton's 

discounted, 


Note 


$26,000 
12,000 


00 
00 
12500 
1,00000 
25000 
1,00000 
16000 


40,435  00 


833,040  00 
10000 
12000 


1,969 


35,229 


00 


00 


148 


JANUARY— FEBRUARY 


CR. 


1829. 

January 
n 

« 
<( 
u 

u 
u 

44 
II 

February 

u 
u 

M 

(( 

(4 
(I 
U 

(1 
(4 

(( 
(4 

(i 

C« 

(( 

7 
15 
16 

14 

17 

28 
30 

M 
M 

By  Store  Fixtures,  paid  W.  Wharton's  bill  

$300 
800 
2,000 
35 
1,000 
2,000 

1,230 
30 

00 
00 
00 
00 
00 
00 

00 
00 

"    Hardware,  paid  Rogers  &  Brothers'  bill  

"    Rice,  paid  Christr.  Barnard's  bill  

"   Store  Expenses  paid  Hyde  for  Stationary 

**   James  Truman,  lent  to  him  

u   Bills  Receivable  paid  to  James  Truman    .          .  . 

"   Bills  Payable,  paid  to  Philadelphia  Bank  for  our 
Note  to  Cope  &  Sons     .  .          

'*   Store  Expenses  paid  Jas.  Stephens,  clerk 

7,395 
33,040 

00 
00 

40,435 

00 

2 
3 
4 
." 
(i 

11 
13 

20 

M 

25 
26 
27 

28 

n 
31 

By  Bills  Payable  paid  H  Austin  for  our  Note 

$525 
15 
20 
25 

54 
100 
422 
85 
75 
2,600 
155 
30 

120 
26 

32 
00 
33 
60 

07 
00 
00 
15 
00 
00 
00 
00 

00 
00 

u    Store  Expenses  paid  B.  West  for  Si^n,  &c 

11          "         "             "             Packinf  Boxes 

"          "         "             "            paid  Phoenix  Insurance 
Co  for  3  per  cent,  and  Policy.    .             .... 

"   Merchandise  paid  to  Haven  &  Smith 

"             "           paid  Freight  pr.  ship  Hamilton  .... 
"   Walter  Howard,  paid  P.  Insurance  Co  

n         «               «          paid  Forten's  bill  

"   Store  Expenses  paid  West  for  Painting  

"   Shipment  to   Port-au-Prince,  paid   Shipping   Ex- 

4,253 
30,975 

47 
53 

35,229 

00 

N2                                149 

• 

- 

INVOICE-BOOK 

B.  &M. 
1829. 


Inventory  of  Hardware  advanced  by  C.  C.  Marsh  into  the  concern  of  Blanchard 

Marsh. 




20  doz.  Snyder's  Shovels,  

.$7  50 

$150  00 
150  00 
162  50 
480  00 
260  00 
600  00 
125  00 
125  00 
20  00 
95  00 
60  00 
60  00 
62  50 
250  00 
120  00 
400  00 
5  00 

83,125 

20    "     Spades,  

.   7  50 

50  boxes  Derby  Scythe  Stones,  

.   3  25 

40  doz.  Wilson's  Grass  Scythes,  

.12  00 

20    "         "         Corn         "       

.13  00 

60  Porter's  Patent  Balances,  

.10  00 

200  doz.  common  Curry-Combs,  

62| 

25  gro.  Allison's  Tutania  Table  Spoons 
10   "     Allison's  Tutania  Tea  Spoons,. 
20  Roland's  6  feet  Mill  Saws,  

,    5  00 
.   2  00 
.   4  75 

20     "           6i  "  Cross-Cut  Saws,  .  .  . 
30  doz.  Duff's  Razor  Straps,  

.    3  00 
.   2  00 

100  pr.  Lewis's  Waffle  Irons,  

62£ 

50  doz.  Patent  Coffee  Mills,  

.    5  00 

2000  qrs.  Can's  Steel  Augers,      

6 

20  doz.  Collins's  Kentucky  Axes,  

.20  00 

Philada.  January  1st,  1829. 
(Signed) 

C.  C.  MARSH. 

Philada.  January 
Messrs.  Blanchard  &  Marsh, 
Bought  of  He 

at  thirty  days'  credit, 
1  crate  common  Curry-Combs,  100  doz.         62  1 
1  "       Patent  Curry-Combs,  100  doz.             87  £ 
20  doz.  Goodyear's  Patent  Pitch  Forks,         5  50 
10  "     Goodyear's  Manure  Pitch  Forks,       9  50 
5  "     Crott's  long  Shovels,       7  50 

15',  1829. 

nry  Austin, 

862  50 
87  50 
110  00 
95  CO 
37  50 
210  00 
60  00 

670  50 

.14  00 

6  "     real  Steyre  Scythes,  

.10  00 

Carried 

forward 

152 


Amount  brought  forward, 

6  doz.  common  German  Scythes, 5  00 

40    "    Jack  Saws, 2  75 

20  boxes  Lewis's  Iron  Mills,  1  doz.  ea 6  00 

1  cask,  50  pair  Waffle  Irons, 7  50 

1     "      Cutlery, 


$670  50 

30  00 

110  00 

120  00 

37  50 

500  00 


Philada.  January  15,  1829. 
Messrs.  Blanchard  &  Marsh, 

Bought  of  Rogers  &  Brothers, 

10  boxes   Whitmore's   Cotton   Cards,   4 

doz.  ea 85  50  $220  00 

5  boxes  Whitmore's  Wool  Cards,  4  doz.  ea.  4  00  80  00 
20  boxes  best  Ink, 2  00  40  00 

6  cwt.  American  Blister  Steel, 6  50  39  00 

250  Ibs.  Halback's  German  '•<•     15  00  37  50 

100"     Hasenclever's    "      « 1400  1400 

3  Mousehole  Anvils,  ea.  100,  200,  and 

300  lbs.  =  600  Ibs 12$  75  00 

3  Birmingham  Anvils,  ea.  100, 150,  250, 

=500  Ibs 7  35  00 

20  gross  gilt  Vest  Buttons, 75  15  00 

40     "        "    Coat     "          1  50  60  00 

10     "     Steel    "       "          4  50  45  00 

10     "       "     Vest     "          2  00  20  00 

2  Braces  and  Bitts, 

$2.00,  2.50,  3.00,  3.50   4.00, 

ea.  12,      18,      24,      30,      36  bitts, '  3000 
6  doz.  Knives  and  Forks, 

.50,  .62,  .75,  .87,  100 

ea.  1,      2,      3,      4,      5,  22  50 

C  «      Rodger's  Pen  Knives, $5  00  30  00 

1  «      Knob  Locks, 10  00  10  00 

2  «      Griffin's  Grass  Scythes,  42  inch.  13  50  27  00 

Received  payment,  for  Rogers  &  Brothers, 

Tuos.  BUNTING. 

r*  20 


Invoice  of  5  Cases  of  Dry  Goods,  shipped  per  ship  Delaware,  Hamilton,  for  Philadel- 
phia, consigned  to  Messrs.  Blanchard  &  Marsh,  on  their  account,  and  at  their  risk, 
pursuant  to  their  orders. 


B.&M. 


Phila. 


W.  H. 


5  Cases  containing 

No.  1,  12  ps.    340  yds.  super  Blue  Cloth, 30s.  stg. 

"   2,  11  "     325     "       "      Black    "     ....  30s. 
"   3,     9  "     275     "         Brown    and    Drab 

Cassimeres, 10s. 

"   4,  75  "  2500  yds.  Ginghams, Is. 

24"     244     "     6-4  Cambric  Muslin,.     Is.   2d. 
"   5    20"     300     "     4-4  Cambric  Muslin,.     Is. 

Charges. 

5  Cases £  stg.  3152 

Duty  and  Entry 12  15  6 

Cartage,  Wharfage,  and  Litterage, 19  12  6^ 

Insurance  and  Policy, 22  46 

Commission  on  £  stg.  1047  12  4£,  at  5 

per  -cent., 52  77] 


Sterling, 
London,  December  31,  1828. 

(Signed)  WALTER  HOWARD. 


£210 

487 

137 

125 

14 


1500 


989 


11015 


1,10000 


00 


154 


SALES-BOOK. 

B.&M. 
1829. 


PHILADELPHIA,  JANUARY— FEBRUARY,  1829. 


Sold  to  Paul  Harris,  at  sixty  days  credit,  viz : 

20  doz.  common  Curry-Combs,  at  68  cts.  $136  00 

10  gro.  Allison's  Tutania  Tea  Spoons,  $2  12  21  20 

30  doz.  Duff's  Razor  Straps, 212  63  60 

1000  qrs.  Can's  Steel  Augers, 7  70  00 

10      Sold  to  William  Blakely  on  his  Note  at  thirty  days,  viz  : 

1000  qrs.  Can's  Augers, 7  $70  00 

1  crate  patent  Curry-Combs,  100  doz.      87 i  87  50 

20  doz.   Goodyear's  patent  Pitch-forks,  5  50  110  00 

10    "         "          "           Manure  forks,  9  50  95  00 

5    "     Crott's  long  Shovels 7  50  37  50 

5  boxes  Whitmor's  Wool  Cards,  4  doz. 

each, 4  00  80  00 

10  gro.  gilt  Vest  Buttons,  . .  .  -. 78  7  80 

487  80 
2£  per  cent,  advance, 12  20 

4  Invoice  of  Hardware  shipped  per  brig  Franklin,  Kay,  con- 
signed to  Lock  hart  and  Arrott,  to  be  sold  on  our  account, 
viz: 

,  20  doz.  Snyder's  Shovels,.. 87  50  $150  00 

j  20     "         "         Spades, 7  50      150  00 

j  50  boxes  Darby's  Scythe  Stones, 3  25      162  50 

40  doz..  Wilson's  Grass  Scythes, 12  00      480  00 

20     ".        "         Corn         "         13  00      126  00 

30  Porter's  Patent  Balances, 10  00      300  00 

20  Roland's  Mill  Saws,  6  feet, 4  75        95  00 

20       "         Cross-Cut,  6|  feet, 3  00        60  00 

20  doz.  Goodyear's  patent  Pitch-forks,. ,     5  50      110  00 

Carried  forward,  1,633  50 

1  "G 


PHILADELPHIA,  FEBRUARY,  1829. 


Brought  forward, 81,633  50 

10  doz.  patent  Coffee  Mills, $5  00        50  00 

55  pair  Lewis's  Waffle  Irons, 62£      34  47 

1  ream  Hardware  Paper, 4  25 


Charges — Cartage  and  Bills  of  Lading, 20  33 

Packing  Boxes, ^.25  60 

Insurance  3  per  cent,  and  Policy, 54     7 

Philadelphia,  February  4*7*,  1829. 


$1,722 


100 


22 


00 


157 


0 


COMMISSION-SALES. 

B.  &M. 
1829. 


DR. 


Sales  of  Oranges,  Olives,  and  Lemons  ; 


14 

(C 


To  Cash,  paid  duty,  freight,  and  primage,. 
"       "       "     Cartage,  &c '. 


"  "     refunded  to  Sundries  for  damages, . . 

"  Charles  Lawrence,  allowed  for  damages, . . 

"   Storage  and  advertising, 

"   Commission  on  $4,314,  at  5  per  cent 

"  Joseph  De  Nones,  for  amount  of  net  proceeds 


$448  00 
12  00 


45  00 
10  00 


52  00 
215  71 


$460 


55 


267 
3,531 


00 


00 


95 
32 


4,314 


27 


160 


Sold  by  order,  and  at  the  risk  of  Joseph  De  Nones,  Cddiz,  CR.         1 


1829. 
March 

3 

By  Cash,  Sold  to  Sundries,  viz  : 
100  boxes  Lemons,  at  3$,  

$300  00 

52     "     Oranges,  "  3,  

156  00 

<UM^« 

(C 

4 

"   Charles  Lawrence, 
25  boxes  Oranges,  at  3$,   

75  00 

200  jars  Olives,          "    50  cts  

100  00 

1  7^ 

cc 

4 

"   Cash,  to  Thos.  Milton, 
100  boxes  Oranges,  at  3$,  

300 

(( 

9 

«   S.  H.  Lovell, 
25  boxes  Lemons,  at  3$,  

75  00 

25     "       Oranges,  "  3,  '..'.... 

75  00 

i  ^n 

(C 

10 

"   Cash,  sold  at  Auction, 
150  boxes  Lemons,  at  5$,  

750  00 

110     "      Oranges,  "  3  80,    

418  00 

220  jars  Olives,        "      50,  

110  00 

„ 

Auctioneer's  Commission,  &c.  3^  per  cent  .... 

1,277  00 
44  73 

1  2^ 

M 

10 

By  Mdse.  4,000  jars  Olives,  at  50  cts  

2,000 

^ 

4,314 

- 

0 


161 


21 


DR. 


Sales  Company  2  Merchandise,  on  account  of 


[829. 

tyril 

20 

To  Sundries,  for  500   dozen  Madeira  Wine,  at 

10$,  =5,000$  ;  our  two-thirds  amount  to,.  . 

dbo  oo* 
«5pO,o«3o 

33 

tfay 

8 

To  Panquoqua's  Consignment,  for  1,100  bis. 

Flour,  at  6$,=  6,600$  j  our  two-thirds,  

4,400 

00 

u 

20 

To  Panquoqua's  Consignment  ;  for  3,000  bis. 

Flour,  at  6$,  =18,000  ;  our  two-thirds,  

12,000 

00 

fulv 

4 

To  Storage  on  1,700  bis.  1  month,  3  cts  

$51  00 

uiy 

"         "       "   1,000    "    2     "        "      .      . 

60  00 

"         "  .     "      500   dozen  Madeira  Wine,   1 

5  00 

116  00 

U 

« 

To  Commission,  for  2£  per  ct.  on  $14,599  82, 

365  00 

4-81 

on 

« 

tt 

To  Henry  Austin,  for  amount  of  his  one-third 

*xO  J 

\J  \J 

of  net  proceeds,  -  

4,706  27 

(C 

ti 

To  Profit  and  Loss,  for  amount  of  our  gain,  .  . 

812  55 

e:  ci  Q 

82 

O,*JJL  O 

O*w 

25,733 

15 

162 


Henry  Austin  one-third,  and  ourselves  two-thirds. 


CR. 


11 


12 


23 

10 

12 

1 

4 


By  Shipment  to  London,  Co.  2,  for  550  brls.  at 

6$,= 3,300$ ;  our  two-thirds, 

By  Shipment  to  Charleston,  Co.  2,  for  amount 

of  500  doz.  Madeira  Wine,  at  10$,=5,000$; 

our  two-thirds, 

By  Sundries,  for  550  brls.  at  $7, 

By  Sundries,  for  100  brls.  at  $7  50, 

By  Sundries,  for  500  brls.  at  $7, 

By  Sundries,  for  1,000  brls.  at  $6  50, 

By  Balance,  for  1,400  brls.  of  Flour  in  store, 

at  6$,= 8,400$  ;  our  two-thirds, 


163 


Account-Sales  of  Lemons,  Oranges  and  Olives,  sold  by  order,  for  account,  and  at 
the  risk  of  JOSEPH  DE  NONES,  Cadiz,  received  per  Clio. 


10 


10 


By  Cash,  sold  to  sundry  persons,  viz : 

100  boxes  Lemons,  at  3$, 300  00 

52     "      Oranges,  "  3, 15600 

By  Cash,  to  Charles  Lawrence, 

25  boxes  Oranges,  at  3$ 75  00 

200  jars  Olives,         "  50  cts 100  00 

By  Cash,  to  Thos.  Milton,  100  bxs.  Oranges,  at  3$ 

By  S.  H.  Lovell,  on  account, 

25  boxes  Lemons,  at  3$, 75  00 

25     "      Oranges,  "3, 75  00 


By  Cash,  sold  at  auction,  viz  : 

150  boxes  Lemons,  at  5$, 750  00 

110  - "      Oranges,  "3  80, 418  00 

200  jars  Olives,        "      50, 110  00 


1,278  00 
Auctioneer's  Commission,  &c.  at  3|,       44  73 


By  Mdse.  4,000  jars  Olives,  at  50  cts. 


To  Charges. 

Duty,  freight,  and  primage, 448  00 

Cartage,  &c 12  00 

Refunded  to  Sundries, 45  00 

Allowed  to  Charles  Lawrence, 10  00 

Storage  and  Advertising, 52  24 

Commission  on  $4,314  27  cts.  at  5  per 

cent. .  . .215  71 


Amount  of  net  proceeds  when  collected, 

Philada.  March  14th,  1829. 

BLANCHABD  &  MARSH. 

164 


$456 


175 

300 


150 


1,233 
2,000 


4,314 


782 


3,532 


00 


00 
00 


00 


27 
00 


27 


BILL-BOOK. 

B.  &M. 
1829. 


BILLS 


NO. 

DRAWN   AT 

DATE. 

DRAWN    BY 

ON    WHOM 

1 

Philada. 

1829. 
January     4 

2 

Boston 

"             2 

Perkins  &  Co  

Oliver  Otis  &  Co  

Philada. 

"           10 

William  Blakely  

4 

CI 

"           19 

Oliver  Otis  &  Co  

5 

u 

"             8 

Paul  Harris  

6 

7 

February  6 

Christopher  Barnard  .  .  . 

3 

M 

WiUiam  Blakely    

S.  H.  Lovell  

9 

Christopher  Barnard  .  .  . 

10 

(< 

„ 

James  Truman  

JVlarch       5 

Oliver  Otis  &  Co  

12 

« 

26 

Thos.  P.  Cope  &  Sons  . 

Wm.  &  Jas.  Brown, 
Liverpool  

13 

'"           27 

Oliver  Otis  &  Co  

April         7 

Christopher  Barnard.  .  . 

15 

(C 

"             6 

S.  H.  Lovell  

16 

May           6 

John  Godard  

17 

"             6 

Hamilton  &  Hood  

10 

(C 

"             6 

1  Q 

(C 

25 

Oft 

(C 

Oliver  Otis  &  Co. 

u 

Tunp          27 

22 

166 


RECEIVABLE. 


WHOSE    FAVOR 

TIME 

DUE 

AMOUNT 

DAY-BOOK. 

PAID. 

1829. 

1829. 

Thos.  Blanchard.    .    .  :  . 

90  days 

April      7 

$2,000 

00 

January  5 

Renewed 

C.  C.  Marsh  

60     " 

March    5 

2,670 

00 

5 

March   5 

Blanchard  &  Marsh  .... 

30     " 

Feb.     13 

500 

00 

10 

Feb.     13 

u                        « 

30     " 

22 

1,000 

00 

19 

"       11 

a                        «; 

60     " 

March  11 

325 

00 

"        21 

March  11 

1830. 

u                        « 

12  mos. 

Jan.      31 

2,121 

00 

28 

1829. 

«                                    (C 

6     " 

August  9 

320 

00 

Feb.       6 

June    10 

(«                                    « 

30  days 

March  16 

251 

37 

"        13 

Ma/chl6 

a                       u 

60     " 

April    24 

800 

00 

«        21 

April  20 

((                               (C 

60     " 

"        26 

500 

00 

"        23 

"       20 

a                        « 

60     " 

May       8 

707 

35 

March    5 

May    29 

a                    « 

20  ds.  st 

4,444 

44 

26 

April   23 

u                    « 

60  days 

May     30 

500 

00 

27 

Jr 

May    30 

«                    « 

60     " 

June     10 

2,000 

00 

April      7 

June    10 

«                    <« 

4  mos.' 

August  9 

1,350 

00 

11 

a                    « 

4     " 

Sept.       9 

1,920 

00 

May       6 

a                       u 

6     " 

Nov.       9 

2,880 

00 

"          6 

<<                       « 

4     « 

Sept.       9 

2,400 

00 

"          6 

"                       " 

60  days 

July     28 

4,601 

62 

25 

((                               U 

90     " 

Sept.      2 

2,161 

86 

29 

Walter  Howard,  London 

2,875 

00 

June      27 

167 


BILLS 


DRAWN    AT 


DATE. 


DRAWN    BY 


ON    WHOM 


Boston 
Philada. 


London 
Philada. 


1828. 
Dec.          25 

October    27 

1829. 
January    1 6 

14 

February  13 
"  13 

"  13 

"  16 

"  21 

"  27 

"  28 

April  20 

"  24 


Joseph  Eaton  &  Co. 
C.  C.  Marsh 

Blanchard  &  Marsh 


May 


« 
July 


Walter  Howard 
Blanchard  &  Marsh 


4 
4 

4 
4 
4 

27 

27 

27 

27 

2 

2 

2 


Thos.  Blanchard 


Blanchard  &  Marsh 


168 


PAYABLE. 


WHOSE    FAVOR 

TIME 

DUE 

AMOUNT 

DAY-BOOK. 

PAID. 

Henry  Austin  

60  days 
90     « 

90     " 
30     " 
8  mos. 
10     « 

12     " 

20  ds.  st. 
60  days 

1829. 
Feb.     28 

Jan.      30 

April    19 
Feb.     17 
Oct.      16 

Dec.     16 
1830. 
Feb.     16 
1829. 

March    9 

April    24 

$1,080 
1,230 
2,000 
1,500 
407 
407 

407 

4,444 
800 

)0 
JO 
)0 
00 
10 
10 
10 

44 

00 

Jan.        5 
"          5 

"        16 
"        22 
Feb.      13 
"        13 

"        13 

"        16 
"        21 

Feb.  2 
Jan.  30 

Mar.  23 
Feb.  17 

Mar.  9 
Renewed 

Thos.  P.  Cope  &  Sons.. 
Rogers  &  Brothers 

United  States  

((                                    CC 

Lewis*  Clapier  

Christopher  Barnard  

J.  R.  Dallett  &  Co  

60     " 

30 

2,190 

00 

"        27 

April  23 

Phoenix  Insurance  Co.  .  . 
Lippincott  &  Co  

90     " 
/«Jf  mos. 
60  days 

8  mos. 
10     " 

May     31 

Aug.     23 

June     27 
1830. 
Jan.        7 

March    7 

81 
2,033 
800 

4,800 
4,800 

56 

33 
00 
00 
00 

"        28 
April    20 
"        24 
May       4 
4 

May  31 
June  27 

Commercial  Bank  
United  States  

(C                                (( 

12     " 

May       7 

4,800 

00 

"          4 

CC                              CC 

14     " 

July       7 

4,800 

00 

4 

CC 

16     " 

Sept.      7 

4,800 

00 

"          4 

CC                              CC 
CC                              <C 

18     " 
6     " 

Nov.      7 
1829. 

Nov.    30 

4,800 
1,500 

00 
00 

"          4 
«        27 

J 

CC                              CC 

8     " 

Jan.      30 

1,500 

00 

"        27 

CC                              CC 

10     « 

March  30 

1,500 

00 

"        27 

C, 

12     " 

May     30 

1,500 

00 

«        27 

N.  Am.  Insurance  Co.  .  , 
Phosnix                       .  .  . 

10     « 
10     « 
4     " 

5 
«         5 

Nov.      5 
169 

351 
332 
56 

00 
62 
65 

July       2 
«          2 

«          2 
22 

P 

ACCJOUNT-CURRENT-BOOK. 
B.  &M. 

1829. 


DR. 


WALTER  HOWARD,  LONDON,  IN  ACCOUNT 


16      To  Bills  Payable,  accepted  your  draft,  at  20 

days'  sight,  to  Lewis  Clapier,  for 

Interest  from  March  9  to  June  30, 

20  To  Sundries,  for  amount  of  Invoice  of  Mdse. 

shipped  per  ship  Thames,  by  your  order, 

Interest  for  130  days,  6  per  cent 

10  To  Sundries,  for  amount  of  your  draft  on  us 

at  sight,  to  Christr.  Barnard, 

Interest  for  20  days, 

15  To  Sundries,  for  amount  of  your  draft  on 

Wavering  &  Co.  to  F.  H.  Barker  &  Co. 

and  protested  for  non-payment, 

Interest  for  15  days, 

To  Shipment  from  New-Orleans,  for  amount 

of  remittance  to  you  by  Wm.  and  James 

Brown,  Liverpool,  June  1, 

Interest  for  30  days, 

Amount  of  debits, 

"         "  credits, 


64  44 


22  22 


5  59 


25  34 


199  81 
155  19 


t,444 


2,974  29 


6,666  67 


2,234 


5,067 


21,432 


44 


84 


00 


4462 


41 


172 


WITH  BLANCHARD  &  MARSH 


CR. 


13 


By  Mdse.  for  amount  of  Invoice  dated  Jan- 
uary 10,  received  per  ship  Delaware,  our 

order, 

Interest  for  170  days,   

By  Schooner,  for  amount  of  our  draft,  at  60 

days'  sight,  to  Caleb  Davis, 

Interest  for  45  days,  as  per  your  advice, 

By  Sundries,  for  amount  of  our  draft,  60  days' 
sight,  to  F.  H.  Barker  &  Co 

Amount  of  credits, 

By  Balance,  due  us  this  date, 

Errors,  &c.  excepted, 
Philadelphia,  July  4,  1829. 

BLANCHARD  &  MARSH. 


$138  52 


16  67 


155  19 


$4,888 


2,222 


4,444 


9,876 


44 


80 


21,432 


41 


173 


LETTER-BOOK. 

B.&M. 
1829. 


Philadelphia,  December  1,  1829. 
WALTER  HOWARD,  ESQ. 

Dear  Sir, — Please  to  accept  our  order  for  shipping  to  us  by 
the  first  vessel  that  leaves  your  port,  the  annexed  named  articles  of 
Dry-Goods,  of  various  patterns,  and  of  the  best  quality ;  for  the  amount 
of  which  we  shall  be  pleased  to  honor  your  draft  at  twenty  days'  sight, 
whenever  it  suits  you  to  draw  on  us,  with  prompt  acceptance  and  pay- 
ment. 

We  contemplate  consigning  to  you,  about  the  first  or  middle  of  Feb- 
ruary next,  the  articles  of  Rice  and  Pearl  Ashes,  relative  to  which  we 
solicit  your  advice. 

Having  commenced  an  extensive  wholesale  and  commission  business, 
we  beg  leave  to  ask  your  favors  in  whatever  form  your  kindness  will 
confer  them ;  and  pledge  our  honors,  as  merchants  and  gentlemen, 
for  the  strict  observance  of  your  commands. — Authorized  to  refer  you 
to  our  friends  and  correspondents,  William  &  Jas.  Brown,  Liverpool 

We  remain  your  obedient  servants, 

BLANCH ARD  &  MARSH. 


177 


Philadelphia,  February  4,  1829. 
Messrs.  LOCKHART  &  ARROTT  : 

.  Gentlemen, — We  have  consigned  to  you,  per  Brig  Franklin, 
Captain  Kay,  (sails  to-morrow,)  a  quantity  of  Hardware,  amounting,  as 
per  invoice  annexed,  to  $1,822  22,  of  which  we  desire  you  to  make 
advantageous  sales,  as  usual ;  and  with  all  possible  dispatch  furnish  us 
with  an  account-sales  of  the  same.  And, 

For  the  net  proceeds  of  which  you  will  please  make  returns  in  the 
best  Sea  Islands  Cotton,  which  we  hope  will  be  at  as  low  rate  as  your 
knowledge  of  business  will  permit  you  to  purchase. 

Be  so  kind  as  to  favor  us  with  information  as  to  the  state  of  the  New- 
Orleans  market ;  we  expect  much  business  hi  that  direction,  and,  from 
the  high  esteem  in  which  we  hold  your  house,  shall  place  as  much  in 
your  way  as  its  nature  will  allow,  expecting  no  less  of  you. 

With  the  greatest  respect, 

We  are  your  ol»edient  servants, 

BLANCHARD  &;  MARSH. 


178 


(5) 


Philadelphia,  March  15,  1829. 
JOSEPH  DE  NONES  ESQ. 

Dear  Sir, — We  have  the  pleasure  of  transmitting  to  you  ar; 
account-sales  of  your  consignment  of  Fruit,  per  Brig  Clio ;  by  which 
you  will  perceive  that  the  net  proceeds  amount  to  $3,531  32  cts.  Upon 
the  arrival  of  your  fruit  the  price  of  that  article  was  quite  low,  as  ap- 
pears by  our  first  sales,  but  a  sudden  demand  arose,  and  we  think  we 
studied  your  interest  by  disposing  of  the  remainder  at  auction. 

We  wait  your  further  orders,  with  grateful  acknowledgments  for  those 
received,  and  remain, 

Respectfully  and  truly, 

Your  servants, 

BLANCIIAKD  &  MARSH. 


179 


Philadelphia,  June  16,  1829. 
WALTER  HOWARD,  ESQ. 

Dear  Sir, — We  deeply  regret  that  our  duty  to  you  has  imposed 
upon  us  the  unpleasant,  though  necessary,  task  of  informing  you  that 
your  draft,  dated  May  1st,  to  F.  H.  Barker  &  Co.  on  the  firm  of  Wa- 
vering &  Co.  due  yesterday,  has  been  protested  for  non-payment.  But 
sir,  as  we,  actuated  by  the  desire  of  serving  you,  have  paid  the  said 
bill,  and  expenses,  you  need  not  give  yourself  any  trouble  about  it. 

The  amount  of  the  bill, $2,222  22 

"         "          "     "   protest, 1  50 

"         "          "  our  commission,  l£  per  cent 11  12 

*         "     at  your  account, 2,234  84 


At  this  late  date  we  advise  you  that  your  bill  to  Christopher  Barnard, 
dated  May  9th,  on  us  at  sight,  for  $6,666  67  cts.  was  presented  on  the 
10th  inst.  and  pr.icl  impromptu. 

It  is  expected  that  Wavering  &  Co.  wi'l  stop  payment  in  a  few  days  : 
we  hope  you  are  not  extensively  concerned  with  them  ;  and  be  assured 
•.hat  our  services,  to  the  greatest  extent  of  our  ability,  are  at  your  com- 
mand. 

We  remain  your  friends, 

BLANCHARD  &  MARSH 
P  S. — Your  account-current  will  be  made  out  by  the  first  proximo 


180 


(7) 


Philadelphia,  July  4,  1829. 

WALTER  HOWARD,  ESQ. 

Dear  Sir, — We  have  the  pleasure  of  submitting  to  you  your 
account-current  up  to  this  date,  (interest  calculated  to  the  30th  ult.)  ex- 
hibiting a  balance  in  our  favor  of  $9,876  86  cts.  which  we  hope  will 
meet  with  your  approbation :  if  not,  you  know  we  are  always  ready 
to  rectify. 

You  may  expect  a  draft  from  us  about  the  first  of  next  month  for 
5,000$,  which  you  will  please  honor,  though  you  should  receive  no 
further  advice  from  us.  We  have  been  waiting  in  vain  for  a  rise  in 
the  rate  of  exchange,  which  has  been  gradually  falling  since  our  last. 

The  Philadelphia  market  is  completely  stocked  with  English  goods, 
we  therefore  do  not  recommend  you  to  ship  to  this  place  on  your  own 
account — we  are  of  opinion,  however,  that  the  Boston  market  presents 
an  aspect  worthy  of  an  adventure  in  your  line ;  and  should  you  want 
a  correspondent  in  that  place,  we  do  not  hesitate  in  assuring  you  of  the 
unquestionable  credit  and  extensive  business  of  the  house  of  T.  Perkins 
&  Co.  in  whom  you  may  safely  repose  confidence. 

With  the  greatest  respect, 

We  remain  your  servants, 

BLANCH ARD  &  MARSH. 


181 


DOCUMENTS. 


RECEIPT  FOR  THE  PAYMENT  OF  A  BILL. 

Philadelphia,  January  7,  1629. 

Received  of  Blanchard  &  Marsh,  throe  hundred  dollars,  in  full  for 
amount  of  my  bill  for  store-fixtures,  &c.  of  this  date. 

$300  00.  GEORGE  W.  WHARTON. 

AN  ACKNOWLEDGMENT  OF  DEBT. 

Philadelphia,  January  4,  1829. 

On  demand,  I  promise  to  pay  C.  C.  Marsh,  or  order,  one  hundred 
and  forty  dollars,  for  value  received. 

$140  00.  CHARLES  LAWRANCE. 

PROMISSORY   NOTE. 

Philadelphia,  January  10,  1829. 

Thirty  days  after  date,  I  promise  to  pay  to  Blanchard  &  Marsh,  or 
order,  five  hundred  dollars,  without  defalcation,  for  value  received. 
$500  00.  WILLIABJ  BLAKELY. 

RECEIPT  FOR  A  NOTE. 

Philadelphia,  January  22,  1829. 

Received  of  Blanchard  &  Marsh,  their  Note,  at  thirty  days,  for  fifteen 
hundred  dollars,  dated  14th  inst. 

$1,500  00.  HENRY  AUSTIN. 

PROMISSORY  NOTE,  WITH  INTEREST. 

Philadelphia,  January  28,  1829. 

Twelve  months  after  date,  I  promise  to  pay  to  Blanchard  &  Marsh, 
with  interest  at  6  per  cent,  two  thousand  dollars,  value  received. 

JAMES  TRUMAN. 

Amount  of  principal,         $2,000  00 

«         «   interest,  121  00— $2,121  00. 

Q  183 


BILL  OF  EXCHANGE. 

Philadelphia,  February  25,  1829. 
Exch.  for  $500  sterling. 

At  sixty  days  after  sight  of  this,  our  first  of  exchange,  (second,  third, 
and  fourth,  of  same  tenor  and  date  unpaid)  pay  to  the  order  of  Capt. 
Caleb  Davis,  five  hundred  pounds  sterling,  for  value  received ;  which 
place  to  the  account  of 

BLANCHARD  &  MARSH. 
To  WALTER  HOWARD,  Esa.  London. 


COMMON  INLAND  DRAFT. 

Philadelphia,  June  1,  1829. 
$4,540  00. 

Ten  days  after  sight  of  this,  pay  to  the  order  of  Henry  Austin,  four 
thousand  five  hundred  and  forty  dollars,  value  received,  and  place  the 
same  to  the  account  of 

BLANCHARD  &  MARSH. 

To  FLEMMING,  Ross  &  Co.  Charleston. 


AN  ORDER. 

Philadelphia,  February  26,  1829. 

Williams  Evans  will  please  pay  to  Blanchard  &  Marsh,  or  order, 
one  thousand  dollars,  and  place  the  same  to  my  account. 

JAMES  TRUMAN. 
$1,000  00. 

ANOTHER. 

Philadelphia,  March  2,  1829. 

Messrs.  Blanchard  &  Marsh  will  please  deliver  to  William  Blakely, 
or  order,  two  hundred  and  eighty-eight  dollars'  worth  of  dry-goods,  as 
he  may  choose,  and  place  the  same  to  my  account. 

CHARLES  LAWRENCE. 


184 


DISCOUNT  AND   INTEREST. 


Example  1. 

Lent  Cash  to  James  Truman  on  his  Note  at  12  months,  with  inter- 
est at  6  per  cent.,  amounting  to  2,000$. 

Multiply  the  amount  by  the  number  of  days,  and  divide  the  product 
by  6,000.* 


363 


6|000)726|000 

121$  interest  for  363,  being  12  months  of  30 
days,  and  3  days  grace. 


Another  Method. 

6  per  cent  per  annum  is  1  per  cent,  for  2  months ; 
Therefore,  the  interest  for  2  months  is  $20  00 
The  interest  for  12  months  is  six  times 

as  much,  6 

$120  00 
Of  60  days,  or  2  months,  3  is  J«  1  00 


$121  00     interest  for  363  days. 


*  This  divisor  is  found  from  the  interest  of  one  dollar  for  one  day ;  thus : 

As  100  :  6  :  :  1  :  —  and 

50 
3  3  X!   1  1 

As  360  :  —  :  :  1  : =  therefore  6,000  is  the  divisor  at  6  per  cent,  per  annum 

50  18,000        6,000 

It  is  customary  for  Merchants  and  Banking  Institutions  to  calculate  each  month  through 
the  year  at  30  days. 

Q  2  185  24 


Example  2. 

Paid  II.  Austin  for  our  Note  for  1,080$,  it  having  26  days  to  run — 
the  interest  is,  thus, 

$1080 
26 

6480 
2160 


6000)28080(^4  68  interest. 
24000 

4080.00 
3600.0 


48000 
48000 

Another  Method. 
Interest  for  60  days  $10  00 

20  days  is  | 3  60  interest  for  20  days 

6     "       TV 1  08          "       "     6     " 


4  68  interest  for  26  days. 


EQUATION   OF   PAYMENTS. 

Sold  Merchandise  to  John  Sims  at  the  following  credits;  in  whai 
time  must  he  pay  for  the  whole  at  one  payment  ? 
$500  at  2  months  credit,     1000 
300    "  3         "        "  900 

600    "  6         "         "         3600 
1000    «  9         "         "         9000 

2400  24|00)1 45 100(6  mos.  and  1  day. 

J44 

1 
30 


30 
24 


186 

- 


The  amounts  are  multiplied  by  their  time,  and  the  total  of  the  pro- 
ducts  are  divided  by  the  amount  of  purchases ;  giving  an  average  time 
for  the  payment  of  2,400$,  of  6  months  and  1  day.  In  giving  a  Note 
for  the  amount,  deduct  one  day's  interest  from  the  amount  and  draw 
the  Note  at  six  months.  - 


Example  3. 

Sold  merchandise  to  John  Sims  at  the  following  dates  and  credits ; 
for  what  time  must  a  Note,  given  at  the  20th  of  July,  be  drawn  for  the 
amount  of  the  whole? 

July  1  $400  at  3  mos.  =    70  days  28000 

5  500    "4     "      =105     "      52500 

10  500   "  4     "      =  110     "      55000 

20  1500    "6     "      =180     "    270000 


2900  29|00)4055|00(139  say  140  ds. 

29 


115 

87 


385 
261 

24 


The  average  time  for  the  payment  of  the  purchases  in  the  preceding 
is  4  months  and  20  days,  at  which  time  the  Note  may  be  drawn,  or  add 
the  interest  on  2,900$  for  10  days,  and  draw  the  Note  at  5  months. 

The  70  days  is  the  credit  of  the  400$  from  the  time  we  average 
from,  viz:  20th  of  July — on  the  1st  of  July  the  400$  had  a  credit  of 
90  days,  but  on  the  20th  it  must  be  20  days  less,  equal  to  70  days. 


187 


Example  4. 

Sold  merchandise  at  the  following  dates,  each  sale  at  six  months 
credit :  the  purchaser  is  to  give  a  note  at  six  months  for  the  amount  of 
the  whole ;  what  should  be  the  date  of  the  note  ? 

March  1  8120.00  X  by    1  =  120.00 

»  10  200.00  X  "   10  ==  2000.00 

April  10  300.00  X  "   40  =  12000.00 

"  20  100.00  X  "   50  =  5000.00 


72JOOO  )1912|0.00(26,   say   27,  days  fiom 

144  the  first  sale. 

472 
422 


50 


In  the  above  each  sum  is  multiplied  by  its  number  of  days  from  the 
first  sale ;  and  the  amount  of  the  products  divided  by  the  amount  of  the 
sales — the  result  is,  27  days  from  March  1st  should  be  the  date  of  the 
note  drawn  at  six  months  for  the  720$. 


188 


EXPLANATORY 
QUESTIONS  AND  ANSWERS, 


RELATING    TO   THE 


OPENING,  CONDUCTING,  AND  CLOSING  ACCOUNTS 


(As  this  volume  is  designed  to  instruct  its  readers,  the  Author  deems  it  his  duty  to  an 
swer  all  questions,  simple  or  complex,  which  he  propounds.) 


OPENING  ACCOUNTS. 

Question.  What  is  meant  by  opening  Accounts  1 

Answer.  Commencing  the  records  of  a  business  in  a  scientific  man. 
ner. 

Ques.  With  what  does  the  history  of  a  business  commonly  com- 
mence 1 

Ans.  With  the  circumstances  or  situation  of  the  party  entering  into 
business. 

Ques.  When  a  business  is  commenced  without  capital,  what  will  be 
the  first  entry  in  the  books  ? 

Ans.  The  first  transaction  that  occurs  ;  a  purchase,  or  aught  else. 

Ques.  When  a  person  commences  business  with  no  capital,  and 
owes  to  J.  Sims  1,000$;  what  would  be  his  journal  entry? 

Ans.  Supposing  his  name  Thos.  Blanchard,  and  the  person  whom 
he  owed  J.  Sims — the  journal  entry  should  be, 
Thos.  Blanchard  Dr. 

ToJ.  Sims, $1,000  00 

Ques.  What  should  be  your  journal  entry,  if  the  first  transaction  in 
the  Books  be  the  purchase  of  50  bales  of  Cotton  of  John  Sims,  on  ac- 
count, amount  2,000$  ? 

Ans.  Merchandise    Dr. 

*    To  John  Sims, $2,000  00 

Ques.  Why  is  that  your  journal  entry  ? 

Ans.  Because  that  entry  shows  all  the  debtors  and  creditors  in  tho 
transaction. 

189 


OPENING  ACCOUNTS. 

Qties.  Why  is  Mdse.  debtor,  and  Sims  creditor  ? 

Ans.  Mdse.  is  debtor  because  it  owes  me,  and  it  owes  me  because  it 
cost  me  2,000$.  Sims  is  creditor  because  I  owe  him,  I  owe  him  because 
I  have  not  paid  him  for  the  Cotton. 

Ques.  What  would  be  your  journal  entry,  if  you  borrow  at  the  com- 
mencement of  business  $3,000  of  J.  Sims  ? 

Arts.  Cash     Dr. 

To  J.  Sims, 83,000  00 

Ques.  What  is  your  journal  entry,  if  you  commence  business  with 
10,000$  cash,  for  which  you  owed  no  person? 

Ans.  Supposing  my  name  to  be  Thos.  Blanchard — 
Cash     Dr. 

To  Thos.  Blanchard, $10,000  00 

Ques.  Explain  that  entry. 

Ans.  Cash  is  debtor,  because  that  species  of  property  owes  me  the 
amount  of  value  called  10,000$. — I  am  creditor,  because  I  am  owed 
the  amount  of  value  that  is  in  the  cash,  and  do  not,  as  in  the  preceding 
entry,  owe  any  thing  for  it. 

Ques.  Why  do  you  not,  in  opening  your  books,  credit  an  account 
called  "  Stock"  for  the  capital  ? 

Ans.  Because  I  cannot  perceive  any  reason  to  authorize  me  to  nick- 
name myself"  Stock ;"  and  I  am  impressed  with  a  belief  that  my  name 
will  appear  much  better  credited  with  the  total  capital. 

Ques.  When  a  number  of  persons  commence  a  partnership,  and  all 
do  not  advance  their  proportions  to  be  invested — how  is  your  journal 
entry  ? 

Ans.  Those  who  advance,  shall  have  credit ;  and  those  who  do  not, 
shall  not  have  credit. 

Ques.  Do  you  know  of  any  rhyming  lines  referring  to  the  opening 
of  the  accounts  ? 

Ans*  Yes,  these — 

"  Stock  for  my  debts  must  debtor  be, 
"  And  creditor  my  property." 

Ques.  Is  that  rule  or  rhyme  of  any  use  ? 

Ans.  It  is  of  no  use,  because  there  are  always  more  than  one  account 
to  be  opened,  and  this  rule  directs  us  to  open  only  one. 

Ques.  Imagine  for  me  a  regular  Day-book  entry  of  the  commence- 
ment of  a  single  concern,  let  the  party  owe  and  be  owed. — Suppose 
your  name  Thomas  Blanchard. 

.4.715.  I,  Thomas  Blanchard,  commence  business,  effected  in  the  fol 
lowing  manner,  viz : 

I  have— Cash,  deposited  in  U.  S.  Bank, $1,000  00 

I  owe — to  J.  Sims,  on  account, 100  00 


CONDUCTING  ACCOUNTS. 
Qucs.  How  would  be  your  journal  entry  1 
Ans.  Cash     Dr.  To  Sundries. 

To  J.  Sims, $100  00 

"   Thos.  Blanchard, 900  00 

81  000  00 

CONDUCTING  ACCOUNTS. 

Question.  Which  is  the  most  valuable  book  of  a  set  of  Account 
Books? 

Answer.  The  Day-book  is ;  because  it  should  show  a  perfect  history 
of  the  business,  wMch  is  not  expected  of  either  of  the  other  books. 

Ques.  To  what  should  we  be  particularly  attentive  in  making  Day- 
book  entries  ? 

Ans.  We  should  be  careful  to  compose  our  Day-book  records  with 
the  utmost  clearness,  and  so  constructing  our  sentences  that  other  per- 
sons may  understand  them  as  we  do. 

Ques.  For  what  purpose  is  the  journal  ? 

A?is.  It  is  to  show  the  debtors  and  creditors  of  every  transaction  se- 
parate from  the  particulars  of  the  transaction,  that  they  may  be  taken 
into  the  leger  free  from  error. 

Ques.  By  what  principle  or  rule  are  journal  entries  made? 

Ans.  Whatever  owes  us  is  debtor — 
Whatever  we  owe  is  creditor. 

Ques.  Of  what  must  the  journal  entries  always  consist  ? 

Ans.  Debtors  and  Creditors,  by  which  I  mean  both  persons  and 
things ;  for  in  the  science  of  double-entry  book-keeping,  responsibility 
is  alike  applied  to  things  and  persons. 

Ques.  For  what  sum  must  a  debtor  be  debited  ? 

Ans.  For  the  amount  he  or  it  owes,  no  more  or  less. 

Ques.  Why  are  the  two  amounts  carried  into  the  dollars  column,  in 
'.he  first  entry  in  the  journal  of  this  work  ? 

A?is.  Because  we  wish  to  show  that  the  debtors  and  creditors  equal. 

Ques.  Why  must  the  debtors  and  creditors  equal  in  amount  ? 

Ans.  When  a  person  owes  you,  you  owe  something  for  his  owing 
you ;  which  is  the  case  in  business  transactions, — therefore,  the  said 
amounts  must  equal. 

Ques.  How  would  you  dispose  of  this — A  friend  makes  to  you  a 
compliment  of  1,000$  cash? 

Ans.  My  journal  entry  would  be,  supposing  my  name  Thos.  Blanchard : 

Cash    Dr. 

To  Thos.  Bianchard, $1,000  00 

Cash  is  debtor,  because  it  is  a  species  of  property  that  owes  me  for  the 
value  in  it,  called  1,000$.  I  am  creditor  for  that  1,000$,  because  I 
owe  nothing  for  it— it  becomes  an  addition  to  my  capital. 

191 


CONDUCTING  ACCOUNTS. 

Ques.  I  have  known  persons  and  systems  that  have  credited  Profit 
and  Loss  account  in  such  a  transaction — Why  would  it  be  wrong? 

Ans.  It  would  be  wrong,  because  the  Profit  and  Loss  account  repre- 
sents the  business,  and  should  show  the  gains  and  losses  caused  by  the 
business — in  the  instance  alluded  to,  we  do  not  owe  our  business  for 
the  1,000$,  because  our  business  did  not  produce  that  sum — if,  there- 
fore, we  should  take  that  sum  to  that  account,  the  object  for  which  it  is, 
would  be  frustrated. 

Ques.  Are  the  debtors  or  creditors  placed  first  in  a  journal  entry  ? 

Ans.  It  is  universally  the  custom  to  place  the  debtors  before  the 
creditors  in  journal  entries.  I  cannot  tell  why  that  is  the  custom,  unless 
it  be  that  people  in  general  think  more  of  their  debtors  than  of  their 
creditors. 

Ques.  Why  is  it  that  we  never  see  the  word  Cr.  in  the  journal  en- 
tries ? 

Ans.  It  is  because  the  word  Dr.  distinguishes  the  debtors  from  the 
creditors ;  therefore,  both  are  shown  without  the  word  Cr. 

Ques.  Who  or  what  do  the  "  Sundries"  owe  in  the  journal  entry  of 
January  19th? 

Ans.  The  "  Sundries"  in  that  entry  owe  the  owners  of  the  books, 
Blanchard  &  Marsh. 

Ques.  The  entry  says  "  Sundries  Dr.  to  O.  Otis  &  Co."  Why  do 
you  say  otherwise  ? 

Ans.  Because  there  is  a  sentence  that  is  understood  to  succeed  the 
debtors,  and  another  that  is  understood  to  precede  the  creditors,  in  every 
journal  entry. 

Ques.  What  are  those  sentences  ? 

Ans.  The  sentence  that  succeeds  the  debtors  is,  to  us  for  $ — ;  and 
the  sentence  that  precedes  the  creditors  is,  we  are  Dr. 

Ques.  Why  need  not  those  sentences  be  expressed  in  each  journal 
entry? 

Ans.  These  sentences  are  superfluous,  because  the  writing  a  thing 
or  person  Dr.  in  our  books,  is  enough  to  signify  that,  that  thing  or  per- 
son is  our  debtor. 

Ques.  What  relation  does  the  journal  bear  to  the  day-book  and 
leger  ? 

Ans.  An  intermediate  relation,  and  operates  as  a  mode  of  conveyance 
from  the  day-book  to  the  leger. 

Ques.  Is  it  necessary  in  making  journal  entries,  that  the  sums  placed 
in  the  outer  columns  in  the  day-book,  be  also  placed  in  the  outer  col- 
umns in  the  journal  ? 

Ans.  No  not  in  the  slightest  respect ; — the  position  of  amounts  in  the 
day-book  is  no  criterion  for  the  position  of  amounts  in  the  journal. 

192 


CONDUCTING   ACCOUNTS. 

Ques.  Have  you  ever  heard  of  a  rule  for  journalising,  founded  on 
he  words  receive  and  deliver  1 

Ans.  Yes,  it  is  commonly  expressed  in  these  lines — 
"  By  journal  laws,  what  I  receive, 
"Is  debtor  made,  to  what  I  give." 

Ques.  How  does  it  apply,  and  how  not  apply  ? 

Ans.  This  rule  originated  in  the  accidental  coincidence  of  a  thing 
being  received  and  debtor  at  the  same  time,  which  often  happens.  The 
transactions  to  which  it  will  not  apply  and  produce  a  correct  result  are 
very  numerous ;  on  April  3d  in  this  volume,  is  one.  However,  even 
if  the  property  received  was  always  debtor,  and  that  delivered  always 
creditor,  then,  also,  would  the  rule  be  unworthy  of  the  science ;  for,  to 
admit  this  rule  to  be  true,  we  must  admit  that  "  receive"  signifies  debtor, 
and  that  "  deliver"  signifies  creditor. 

Ques.  What  is  the  purpose  of  the  leger  1 

Ans.  The  purpose  of  the  leger  is  to  show  all  our  debtors  and  cred- 
itors, and  the  amounts  that  each  owes  and  is  owed. 

Ques.  What  do  we  understand  by  posting  or  legerising  ? 

Ans.  The  conveying  of  the  debtors  from  the  transaction's  in  the  day- 
book into  the  leger. 

Ques.  How  often  is  it  proper  to  post  our  accounts  ? 

Ans.  There  can  be  no  objection  to  keep  our  accounts  always  posted 
— I  think,  however,  that  accounts  ought  not  to  remain  unposted  longer 
than  a  week ;  it  is  common  to  post  monthly. 

Ques.  What  are  the  names  of  what  are  termed  Auxiliary  Books  ? 

Ans.  Cash  Book,  Invoice  Book,  Sales  Book,  Bills  Receivable  and 
Payable  Book,  &c.  &c.;  these  are  the  principal,  and  appear  indispensa- 
ble in  almost  any  business. 

Ques.  What  is  the  use  of  the  Cash  Book  ? 

Ans.  It  is  used  to  show  every  sum  of  Cash  received  and  paid ;  it  is  a 
check  against  cheating  and  error ;  because  the  balance  of  the  debtor 
and  creditor  sides  of  the  book  should  be  the  amount  of  cash  on  hand, 
or  at  command- 

Ques.  When  do  you  balance  the  Cash  Book  ? 

Ans.  We  balance  our  Cash  Book  every  evening,  when  the  business 
of  the  day  is  over — the  operation  is  performed  thus :  add  the  amounts 
on  the  debtor  side,  and  add  those  on  the  creditor  side — obtain  the  differ- 
ence between  the  two,  which  add  to  the  smaller  side,  and  the  book  is 
balanced. 

Ques.  When  should  entries  be  made  in  the  Invoice  Book  1 

Ans.  Immediately  upon  receiving  the  goods  or  property,  the  bill  of 
the  same  should  be  pasted  or  copied  into  the  Invoice  Book  ? 

Ques.  Why  should  entries  be  made  in  the  Sales  Book  ? 

R  193  25 


CONDUCTING  ACCOUNTS. 

Ans.  At  the  time  Merchandise  is  selected  or  ordered  by  the  buyer,  a 
description  of  its  quantity,  quality  and  price  should  be  made  in  the  Sales 
Book. 

Ques.  When  and  how  do  you  make  Day-book  entries  from  the  In- 
voice and  Sales  Books  ? 

Ans.  Single  purchases  and  sales  may  be  shown  in  separate  Day- 
book entries,  if  of  worthy  amounts ;  or,  we  may  with  propriety  con- 
vey the  purchases  of  the  month  into  the  Day-book  in  one  entry,  and 
the  sales  of  the  month  from  the  Sales  Book,  into  the  Day-book,  in  one 
entry. 

Ques.  Allow  me  to  see  a  specimen  of  a  monthly  entry  of  Sales  of 
Merchandise,  suitable  for  the  Day-book  ? 

Ans.  Sold  Merchandise  to  the  following  persons  on  account,  on  Notes, 
and  for  Cash ;  during  this  month,  as  per  Sales  Book. 

To  Chas.  Lawrence  on  account,  amounting  to $100  00 

"   Paul  Harris,  "  "  " 300  00 

For  Note  at  60  days,  to  John  Sims,  "         $500  00 

"   Note  at  90  days,  to  H.  Austin,  "         1,000  00 

1,500  00 

"   Cash  to  sundry  persons,  amounting  to 600  00 


$2,500  00 
Ques.  What  is  your  journal  entry  of  this  ? 

Ans. 

Sundries  Dr.         To  Merchandise. 

C.  Lawrence, $100  00 

P.  Harris, 300  00 

Bills  Receivable, 1,500  00 

Cash, 600  00 

—    2,500  00 

Ques.  In  what  respect  is  the  monthly  method  of  making  entries 
of  sales  preferable  to  that  of  singly  entering  each  sale? 

Ans.  Much  labor  and  space  are  saved,  for  instead  of  taking  every  item 
separately  to  the  merchandise  account,  the  purchases  and  sales  are 
posted  in  totals. 

Ques.  When  should  entries  be  made  in  the  Bills  Receivable  and  Pay- 
able Book? 

AJIS.  In  the  Bills  Receivable  Book  immediately  on  obtaining  posses- 
sion of  a  Note — and  in  the  Bills  Payable  Book,  previous  to  giving  pos- 
session of  a  Note 

Ques.  We  have  he/ird  that  some  persons  posted  direct  from  the  Cash 
Book,  Invoice  Book,  and  Sales  Book ;  what  is  objectionable  in  this 
method  ? 

Ans.  By  such  a  plan  there  is  no  Book  of  all   the  set,  that  shows  a 

194 


CLOSING  ACCOUNTS. 

complete  history  of  the  business ;  this  I  consider  a  great  deficiency — 
no  one  hook  of  the  set  can  contain  that  history  if  it  he  not  embraced 
in  the  Day -Book ;  therefore,  it  is  necessary  that  every  debtor  and  every 
creditor  should  be  mentioned  in  the  Day-Book. 

Ques.  What  is  meant  by  Trial  Balance  ? 

Ans.  It  is  a  collection  of  all  the  balances  in  the  Leger. 

Ques.  What  is  the  object  of  the  Trial  Balance? 

Ans.  The  detection  of  errors ;  for  the  total  of  the  debtor  balances, 
and  the  total  of  the  creditor  balances,  should  be  the  same  in  amount ; 
their  not  being  equal,  is  a  sure  evidence  of  error. 

Ques.  You  say  that  the  Trial  Balance  informs  you  that  error  exists  ; 
in  what  way  do  you  discover  where  error  exists,  that  you  may  correct  1 

Ans.  First,  we  see  if  the  debtors  and  creditors  in  each  journal  en- 
try equal,  for  if  they  do  not  equal  in  the  journal,  they  cannot  in  the 
Leger : — Second,  examine  the  postings,  and  re-add  and  subtract  each 
account;  and  so  proceed  in  the  same  manner  until  the  -errors  are 
found. 

Ques.  How  often  is  it  proper  to  make  out  a  Trial  Balance  ? 

Ans.  Once  a  month,  or  quarterly,  at  the  discretion  of  the  book-keeper, 
who  possessing  unqualified  confidence  in  himself,  might  reserve  it  for  a 
yearly  operation. 

CLOSING  ACCOUNTS- 

Ques.  What  is  meant  by  closing  accounts  or  books? 

Ans.  By  closing  accounts,  we  mean  the  act  of  rendering  the  debtor 
ard  creditor  sides  of  every  account  equal — this  is  done  by  transferring 
the  balances  of  the  various  accounts  to  two  accounts ;  and  thereby 
showing  the  result  of  the  business  so  condensed,  as  to  be  seen  at  one 


. 
view. 


Ques.  To  what  do  we  first  direct  our  attention  upon  closing  ac- 
counts ? 

Ans.  To  the  Trial  Balance,  for  our  entries  must  be  correct,  or  our 
accounts  cannot  be  closed. 

Ques.  What  next  receives  our  attention  ? 

Ans.  The  Balance  Sheet — this  sheet  is  for  the  purpose  of  exhibit- 
ing the  closing  of  the  accounts  out  of  the  book,  instead  of  in  the 
hooks. 

Ques.  Why  is  it  necessary  to  close  the  accounts  in  the  books,  when 
the  Balance  Sheet  exhibits  the  same  information  ? 

Ans.  A  Balance  Sheet  ought  to  suffice  for  the  closing  of  the  accounts 
in  the  books,  when  the  records  of  the  business  are  to  be  continued  in 
the  same  books ;  but  when  new  books  arc  to  be  taken  into  use,  then  all 
the  accounts  should  be  brought  to  a  close  by  regular  Day-books,  Jour- 

195 


CLOSING  ACCOUNTS. 

nal,  and  Leger  entries,  by  which  each  ,yolume  will  show  the  beginning 
and  ending  of  the  business. 

Ques.  What  does  the  Balance  Sheet  exhibit? 

Ans.  All  the  property  and  debts  of  the  concern ;  consequently,  the 
net  capital ;  all  the  profits  and  losses,  therefore  the  gain. 

Ques.  There  is  a  large  engraving  in  Mr.  Bennett's  Book-keeping :  for 
what  purpose  is  it  ? 

Ans.  That  is  a  "  Balance  Chart :"  the  design  of  it  is  to  explain  the 
closing  of  the  accounts,  and  to  compare  their  closing  "  to  the  flowing 
of  rivulets  into  rivers,  and  rivers  into  seas,  &c."  This  Balance  Chart 
is  often  or  commonly  mistaken  for  a  Balance  Sheet,  by  persons  partial- 
ly acquainted  with  the  subject ; — they  are,  however,  intended  for  quite 
different  purposes.  * 

Ques.  What  follows  the  completion  of  the  Balance  Sheet  ? 

Ans.  If  the  business  is  to  be  continued  in  the  same  books,  nothing 
but  the  usual  entries  of  the  transactions,  as  they  occur  in  the  busi- 
ness. 

Ques.  But,  suppose  the  books  are  to  be  changed,  and  the  accounts 
opened  in  a  set  of  new  books ;  what  then  follows  the  completion  of  the 
Balance  Sheet? 

A?is.  When  the  accounts  are  to  be  opened  in  a  set  of  new  books,  we 
consider  it  proper  that  the  old  books  should  be  perfect  volumes,  and 
therefore  we  proceed  to  show  all  the  closing  entries  in  the  Day-book, 
Journal,  and  Leger. 

Ques.  Why  may  a  Balance  Sheet  suffice  for  the  full  closing  of  the 
accounts  ? 

Ans.  Because  every  particular  relating  to  the  business  or  the  cir- 
cumstances of  the  concern,  is  shown  with  the  same  precision  as  though 
the  accounts  were  all  closed. 

Ques.  Which  side  of  the  Cash  account  can  exceed  ? 

Ans.  The  debtor  side,  which  can  never  be  less  than  the  creditor,  if 
the  account  be  correct. 

Ques.  Why  is  it  that  the  debtor  side  is  generally  the  greater  of  the 
two  sides,  when  the  account  is  not  closed? 

Ans.  It  is  generally  greater  and  never  less  than  the  creditor  side,  be- 
cause that  species  of  property  having  a  par  value  comes  into  our  pos- 
session, and  goes  out  of  our  possession  at  the  same  price  or  value ;  and 
we  can  never  pay  out  more  cash  than  we  have  received. 

Ques.  To  what  place  must  the  balances  of  property  on  hand  be 
transferred  at  the  closing  the  accounts  ? 

Ans.  To  the  balance  account,  and  on  the  debtor  side ;  because  the 
property  owes  you. 

Ques.  To  what  place  do  we  transfer  the  balances  of  the  accounts  of 
persons  who  owe  us  ? 

Ans.  To  the  debtor  side  of  the  Balance  account. 


CLOSING  ACCOUNTS. 

Ques,.  To  what  place  do  you  transfer  the  balances  of  accounts  of 
persons  that  you  owe  ? 

Ans.  To  the  creditor  side  of  the  Balance  account. 

Ques.  To  what  place  do  you  take  the  amounts  of  profits  that  may  be 
shown  at  many  of  the  accounts  in  the  Leger  1 

A?is.  To  the  creditor  side  of  the  Profit  and  Loss  account,  because 
we  owe  the  business  for  producing  all  the  gains. — And  all  the  amounts 
of  losses  at  the  closing  of  the  accounts,  are  taken  from  the  various 
places  in  the  Leger,  and  put  on  the  debtor  side  of  the  business,  Profit 
and  Loss. 

Ques.  In  closing  the  Profit  and  Loss  account,  to  what  place  do  you 
transfer  its  balance  1 

Ans.  To  the  account  representing  the  owner  of  the  books,  for  he 
should  be  credited  for  the  gain  in  the  business,  or  debited  for  the  loss ; 
because  he  was  the  cause  of  either. 


R2 


197 


FOREIGN  MONEYS, 

(FROM  J.  D.  GEORGE  &  C.  TREICHEL'S  TARIF.) 
AS  ESTIMATED  AT  THE  CUSTOM-HOUSE  IN  PHILADELPHIA. 


Aux  Cayes,  8j  Livres  to  the  Dollar. 

Antigua,  pound  of 

Bremen  Rix  Dollar 

Brazil  Millreas,  to  be  fixed  in  refer- 

ence  to  the  rate  of  exchange.  Aver- 

ages 

Bermuda,  Pound  of 

Barbadocs, 

Bengal,  Rupee  of 

Bombay, 

Cayenne,  8  Livres  and  5  Sols  to  the 

Dollar. 

Calcutta  Rupee 

Star  Pagoda 

China,  Tale  of 

Crefelt,  Guilder 

Denmark  Rix  Dollar 

Blue  or  Current  Dollar  of  Denmark, 

fixed  according  to  the  exchange  on 

London. 

France,  Livre 

Franc  18i  cts.  and  1$  pr.  ct. 

Frankfort  and  other  Guilder  in  the  24 

Florin  rate 


Great  Britain,  Pound  sterling* 


Guadaloupe,  8  Livres  and  5  Sols  to 

the  Dollar. 
Genoa,  6^  Livres  to  the  Dollar. 

Geneva  Livre 

Halifax  Pound  Sterling 

Holland  Guilder 

Hamburg  Me.  Banco 


cts. 

222 
75 


100 

300 

320 

50 

50 


50 
184 
148 

40 
100 


40 
444 


Hamburg  Rix  Dollar 

Ireland  Pound  sterling 

Jamaica     do.          do 

Leghorn  Pezza,  90  76-100  cts. 

Livre,  6£  to  the  Dollar 

Louis'd'or  Rix  Dollar 

Madeira  Millrea 

Madras  Rupees,  108  equal  to  100 
Sicca  Rupees,  or  4C  3-10  cts. 

New-Providence  Pound  sterling. 

Naples  Ducat 

Nuremburg  and  other  Guilder  in 
24  Florin  rate 

Prussian  Rix  Dollar,  68  29-1 00  cts 

Portugal  Millrea 

Russia  Ruble,  according  to  the  Ex- 
change between  London  and  St 
Petersburg.  Averages  . 

St.  Kitts,  9s.  to  the  Dollar. 

St  Bartholomew's,  8s.  3d.  to  the 
Dollar. 

Saxon  Rix  Dollar 

St.  Gall-Guilder,  40  36-100  cts. 

Spain,  Ryal  Plate 

Real  Valoon 


cts. 
100 
444 
300 


Sicily,  Ounce  of 

Sicca  Rupee 

Sweden  Rix  Dollar 

29       Trieste  Florin 

400       Turkey  Piastre,  according  to  the 
40  rale  of  Exchange  on  London 

33  J         Averages 

*  Not  exact,  $4  44.4.         • 


75 

100 


250 
80 

40 
124 


10 

5 

246 

50 
100 

48 


11 


And  all  other  denominations  of  money  in  value  as  nearly  as  may  be  to  the  said 
rates,  or  to  the  intrinsic  value  thereof,  compared  with  money  of  the  United  States. 

Extract  of  an  Act  of  Congress,  passed  3d  March,  1801. 

Invoices  of  all  goods  imported  into  the  United  States,  and  subject  to  a  duty  ad 
valorem,  shall  be  made  out  in  the  currency  of  the  place  or  country  from  whence 
the  importation  shall  be  made,  and  shall  contain  a  true  statement  of  the  actual  cost 
of  such  goods  in  such  foreign  currency  or  currencies,  without  any  respect  to  the 
value  of  the  coins  of  the  United  States  or  foreign  coins  which  now  are  or  shall  be 
by  law  made  current  within  the  United  States  in  such  foreign  place  or  country. 


199 


UNIVERSITY  OF  CALIFORNIA  LIBRARY 
BERKELEY 

Return  to  desk  from  which  borrowed. 
This  book  is  DUE  on  the  last  date  stamped  below. 


190ct'52KF 


QCT 


'B  2  4  1954  1.U 
' 


LD 


'-«-  u  Ll) 


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